{
  "docId": "019de071-0365-7797-9dbe-8b52be0b162c",
  "docSlug": "729fe89bb6455d2ab82ee471ab2f1a52",
  "documentTitle": "Engine No. 1 | Activist Presentation Deck | 25 slides",
  "authorId": "engine-no-1",
  "authorName": "Engine No. 1",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-05-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 6,
  "pageCount": 25,
  "prevPage": 5,
  "nextPage": 7,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses three pull-quotes to highlight the contradiction between management's stated strategy and external market/analyst sentiment.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de071-0365-7797-9dbe-8b52be0b162c/6",
  "deckHref": "/decks/019de071-0365-7797-9dbe-8b52be0b162c",
  "deckJsonHref": "/decks/019de071-0365-7797-9dbe-8b52be0b162c.json",
  "deckAnchorHref": "/decks/019de071-0365-7797-9dbe-8b52be0b162c#slide-6",
  "components": [
    {
      "bbox": {
        "h": 0.6,
        "w": 0.45,
        "x": 0.03,
        "y": 0.2
      },
      "kind": "list",
      "text": "Despite investor demand for spending discipline, for years ExxonMobil has pursued aggressive capital expenditure plans to chase production growth. This strategy has contributed to significant share price underperformance in recent years and left ExxonMobil far more exposed than peers to demand declines. While in the face of a deteriorating balance sheet and investor pressure ExxonMobil reduced its near-term spending plans, its long-term model remains unchanged.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "39161dd1-9c6e-47d0-b0d1-706a43c281f8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.45,
        "x": 0.5,
        "y": 0.73
      },
      "kind": "quote",
      "text": "[ExxonMobil] is sticking with plans to increase crude production in the coming years ...",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "66fc5f42-f782-4af3-80c0-b734e159d89b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.45,
        "x": 0.5,
        "y": 0.48
      },
      "kind": "quote",
      "text": "I don't think our plans have changed dramatically. The plans that we laid out, which was an aggressive organic investment program ... So we're on the same path. It's just delayed a little bit.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d19a696d-4f66-4849-8ede-fe85c7191ed6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.5,
        "y": 0.17
      },
      "kind": "quote",
      "text": "Analysts say a quest for fast oil-production growth and an addiction to risky, high-cost projects have hobbled the company in recent years. Yet Exxon's response has been to double down on oil and gas, plotting another huge surge in output. As rivals fret about peaking oil demand and start trying to navigate a global energy transition away from fossil fuels to cleaner energy, Exxon is making a huge bet on oil's future.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fa88932b-fb7c-4fa7-9058-799387ea09a9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.7,
        "x": 0.03,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Quote Sources: Derek Brower (Oct. 28, 2020). Why ExxonMobil is sticking with oil as rivals look to a greener future. Financial Times. Avi Salzman (Dec. 1, 2020). Exxon Is Retrenching. A Top Executive Defends the Strategy. Barron's. Derek Brower (Mar. 1, 2021). Exxon adds two board directors in wake of activist pressure. Financial Times.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a62f64d2-55b0-4bfd-abe5-86368e55a59a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.03,
        "y": 0.05
      },
      "kind": "title",
      "text": "ExxonMobil has pursued the most aggressive spending plans in the industry to chase production growth",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "79dacb1c-e365-490f-ad90-b7c9a2ad09da",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "26cca081-3560-4df8-aa38-60800d5ab31e",
      "evidence": "Contrasting management quotes with external analyst critique to expose strategic misalignment.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 11,
      "from": 4,
      "beatId": "d0741cda-02e9-4cbc-b734-6e215656753c",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "ExxonMobil's poor performance and contradictory strategies",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 11,
      "from": 4,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "b7bc8537-fd6a-451a-9e56-439534d2d90d",
      "evidence": "ExxonMobil's underperformance and vulnerability",
      "position": 0,
      "objective": "Highlight costs of ExxonMobil's inaction",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}