Activist investors versus Big Oil how should ExxonMobil and British Petroleum respond?
Campbell, R.
, Jasansky, A. & Wirth, J.
(2025).
Activist investors versus Big Oil how should ExxonMobil and British Petroleum respond?
In
Sallai, D. & Pepper, A.
(Eds.),
Navigating the 21st Century Business World: Case Studies in Management
(pp. 159 - 176).
LSE Press.
https://doi.org/10.31389/lsepress.nbw.k
, Jasansky, A. & Wirth, J.
(2025).
Activist investors versus Big Oil how should ExxonMobil and British Petroleum respond?
In
Sallai, D. & Pepper, A.
(Eds.),
Navigating the 21st Century Business World: Case Studies in Management
(pp. 159 - 176).
LSE Press.
https://doi.org/10.31389/lsepress.nbw.k
This case study contrasts two activist campaigns targeting Big Oil. In one, Arjuna Capital targeted Exxon (pushing it to adopt more ambitious climate targets). In the other, Bluebell Capital targeted British Petroleum (BP) (demanding it watered down its climate goals and exploit current high oil prices). The case addresses an enduring debate – what is the purpose of the firm? Is it to generate profits for shareholders within the confines of the law (i.e., Milton Friedman’s famous proposition)? Or do firms have obligations to wider society?
