Chevron Investors Reject Independent Board Chair Proposal
Chevron investors rejected a proposal to separate the board chair and CEO roles. They also elected all board nominees and rejected human rights report requests.
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CHEVRON CORP shareholders rejected a proposal to require an independent board chair, keeping the role combined with the CEO. The preliminary vote at the annual meeting follows a similar rejection by CONOCOPHILLIPS investors earlier in May. For investors, the result reinforces management's control over corporate governance amid pressure from proxy advisors for more oversight.
