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Breakingviews: BlackRock’s governance activism finds big target

Kevin Allison
Larry Fink
David Orrell | CNBC

BlackRock's ongoing experiment in governance activism has found a big target in Exxon Mobil. The manager of nearly $5 trillion of funds withheld its support for two high-profile directors at the $360 billion oil giant's annual meeting in May. Rebuking the mighty Exxon shows that one of the world's most powerful investors – often passive in the past – is slowly but steadily finding its voice.