Axios Exxon shareholders, bucking company management, voted to install at least two new members to the oil giant's board in a push to make Exxon more aggressive on addressing climate change and more disciplined in its oil investments.Why it matters: Exxon management campaigned strongly against the entire slate of four people nominated by Engine No. 1, the activist investment group whose campaign was backed by several major pension funds.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeThe election of two of the four would avoid what could have been a categorical rebuke of the oil giant's strategy, but it still represents significant investor dissent.The vote in favor of the two new board members shows that many investors see Exxon, which has had a rocky financial performance in recent years, as poorly positioned for the future. Driving the news: Shareholders voted to add Gregory Goff and Kaisa Hietala at the oil giant's annual meeting Wednesday, Exxon said at the conclusion of voting. Tabulations on other candidates are still pending, though one of the Engine No. 1 candidates was voted down, Exxon stated in a press release. It's possible that one other activist candidate will still prevail.Hietala is a a former renewables executive with the refining company Neste and Goff is the former CEO of the refiner Andeavor.What they're saying: Charlie Penner, one of Engine No. 1's leaders, told shareholders at the meeting that Exxon management is "determined to fight off the future for as long as possible," but added: "change is coming. "The big picture: The battle over replacing members of Exxon's 13-person board comes amid increasing pressure on oil majors to do more on climate change.European-based multinational giants are diversifying more widely and vowing long-term transformations to "net-zero" emissions companies by 2050.Engine No. 1 also says Exxon lacks "any serious diversification efforts" that will prepare it to thrive in a low-carbon world. The group says Exxon needs a more cautious investment approach around oil and gas.Engine No. 1's candidates won the backing of some of the company's largest shareholders, including BlackRock, Vanguard, and State Street.Yes, but: Exxon says it's in step with the evolving energy mix, citing growing emphasis on carbon capture and large market opportunities there, and efforts on hydrogen and biofuels.Exxon also argues its adjusted capital strategy will deliver strong returns in oil and gas, which it notes will remain huge markets for decades despite low-carbon energy growth.The company recently set new near- and medium-term targets to cut emissions intensity (that is, emissions per unit of output), but has eschewed the long-term carbon neutrality vows of its European peers.“ExxonMobil is in a strong position to create differentiating value throughout the energy transition,” CEO Darren Woods said, touting Exxon's oil-and-gas portfolio and its investment in climate technologies. "We welcome the new directors Gregory Goff in Kaisha Hietala to the board and look forward to working with them constructively and collectively on behalf of all shareholders," Woods said.Go deeper: The intensifying battle for Exxon's futureLike this article? Get more from Axios and subscribe to Axios Markets for free.<doc-sep>As expected, Chevy has revealed a new Blazer to take on the Ford Bronco. The new Chevy Blazer will be based on crossover SUV platform and fill a gap in Chevy's lineup. Both a four-cylinder and a V6 motor will be on offer when the Blazer goes on sale in 2019. What's old is new again, as Chevrolet formally took the wraps off the 2019 Chevrolet Blazer Monday night in Atlanta. Enthusiasts hoping the return of the Blazer nameplate would mean Chevrolet is ready to square off with Ford's upcoming Bronco will be disappointed. The new Blazer trades its namesake’s body-on-frame construction with four-wheel drive for a unibody structure with front-wheel drive and optional all-wheel drive. Basically, it's another family crossover for the bowtie brand. The 2019 Blazer slots between the Equinox and Traverse in Chevrolet's crossover SUV lineup. It's a two-row, five-seat mid-size crossover SUV. Chevrolet Style-wise, the Blazer looks like a cross between an angry 2019 Acura RDX and a 2019 Chevy Camaro. It has a massive grille, LED daytime running lights, a window line that sweeps upward at the rear, and the now-popular floating roof treatment with blacked-out pillars. Motivation is provided by a 2.5-liter inline-4 rated at 193 horsepower and 188 pound-feet of torque in base form. Those needing more grunt will opt for a 3.6-liter V-6 producing 305 horsepower and 269 lb-ft of torque. Regardless of engine choice, power is sent to the drive wheels via 9-speed automatic transmission. A Traction Select system lets drivers change throttle and stability control calibrations to aid in slippery traction situations. True four-wheel drive isn't on the shopping list. Front-wheel drive is standard with an optional base all-wheel-drive system that must be turned on. A more advanced twin-clutch all-wheel-drive system that is able to vary power to the rear wheels to aid with handling and traction will be available on top RS and Premier models. With the right boxes ticked, the Blazer is capable of towing up to 4,500 pounds. Inside, the rear seat will slide fore and aft to increase either rear legroom or cargo capacity. Fold the second row down and the Blazer will haul 64.2 cubic feet of stuff. Chevrolet While Chevrolet didn't announce the Blazer's full feature set, it said all models will feature an 8.0-inch touchscreen infotainment system with Apple CarPlay and Android Auto, along with 4G LTE connectivity that enables a Wi-Fi hotspot. Available features are set to include heated and cooled front seats, a heated steering wheel, heated rear seats, an electronically lockable glovebox, a cargo management system, wireless smartphone charging, 6 USB ports, a hands-free power liftgate, and a panoramic twin-pane sunroof. Safety tech such as adaptive cruise control and a rear camera mirror will be available on top RS and Premier models, but a full list of safety features been released. Chevy will also offer hitch view for the rearview camera. The new 2019 Chevrolet Blazer will go on sale in early 2019. Pricing, fuel economy, and other details will come closer to launch.<doc-sep>DETROIT — Chevrolet is adding a midsized SUV to its lineup next year. The Blazer will be a two-row SUV, taking on the Ford Edge, Nissan Murano and Jeep Grand Cherokee. It's Chevrolet's only two-row midsize SUV, making GM's biggest brand a player in a hot part of the market. Chevrolet is adding the Blazer to appease consumers' growing appetites for larger, roomier vehicles, said Steve Majoros, director for Chevrolet marketing for cars and crossovers. Mark Phelan:Why shoppers will want the all-new 2019 Chevy Blazer "It's a reaction to the fundamental market change to SUVs," said Majoros. Consumer demand for midsized SUVs is increasing. January through April, the midsized SUV market share in the U.S. has grown by nearly 1 percentage point from a year before, Majoros said. That means 11.5 percent of U.S. car owners drive a midsize SUV, he said. Chevrolet expects the segment's growth to outpace the demand for three-row midsized SUVs going forward, he said. Put simply: "You can't have too many in the lineup," Majoros said. "And this is an addition to our portfolio rather than an update, so it will bring new customers." Chevrolet views the vehicle as resistant to rising fuel prices. "In the last fuel shock we had in 2008 and 2009, the midsize SUVs remained really strong. The segment didn't disappear," said Rick Spina, executive chief engineer for compact and crossover SUVs. "Consumers today, when they think of general fuel economy and the economics, they know fuel economy is good across all segments." Chevrolet has improved retail sales in recent years in part because it has been able to attract new customers with products such as the Bolt EV, the Colorado small pickup and the Trax crossover, said Majoros. In the first quarter, Chevrolet reported total sales rose 3.6 percent from the year-ago quarter to 957,343 vehicles. Read more: Chevrolet unveils freshened Trax in Chicago Chevrolet Bolt aims to take electric cars mainstream The brand finished 2017 with an 11.2 percent market share, up one full percentage point from four years ago, he said. "The introduction of the all-new Blazer builds on that momentum and further strengthens the most comprehensive lineup of crossovers and SUVs on the market today," said Alan Batey, GM's president of North America and head of global Chevrolet in a statement. The 2019 Blazer, which will be built at GM's manufacturing plant in Ramos Arizpe, Mexico, will come to market early next year, Majoros said. He declined to be more specific on a time frame, and Chevrolet is not yet releasing the SUV's price. "The Edge and Murano are at the lower end of the average transaction price and the Jeep Grand Cherokee is on the high end," said Majoros. "We're going to be competitive across the spectrum because of the trim levels." The 2018 Nissan Murano starts at $30,800, the 2018 Ford Edge starts at $29,315 and the 2018 Jeep Grand Cherokee has a starting price of $30,895. Chevrolet will offer three trim levels: The Blazer, the RS and the Premiere. The Blazer is the base, the RS trim is sporty with more monotone accents and the Premiere is sophisticated with chrome accents. Majoros said Chevrolet will start to advertise the SUV early next year across all forms of media. The typical buyer of a two-row SUV has income of $130,000 to $140,000 a year, said Majoros. The design of the vehicle is intended to reflect that level of success. "It's about anyone who appreciates high style," said Mike Pevovar, exterior design director of Chevrolet Blazer. "It's more of a 'me' vehicle. It's allowed to be a little bit selfish." Contact Jamie L. LaReau: jlareau@freepress.com or 313-222-2149.<doc-sep>
We knew it was coming. Chevrolet made the Equinox smaller so there would be a midsize hole in the crossover lineup between it and the full-size Traverse. And talk about bringing back the Blazer name has been rampant for a while. General Motors finally gave us our first look at the 2019 Chevrolet Blazer at an event in Atlanta, but unlike the Blazers of the past, this one is not a body-on-frame SUV, or a two-door, nor does it have a removable roof. Instead, it rides on the same C1 architecture as other car-based crossovers including the Cadillac XT5 and GMC Acadia. One difference: a wider track to give it more girth and character. The five-passenger crossover comes in three trim levels including the sportier and blacked-out RS and the more upscale Premier, both with optional 21-inch wheels instead of the standard 18s. Chevy tried to give each trim a distinct look with changes to the grilles and trim pieces. See all 10 photos See all 10 photos The Blazer name, which dates back to 1969, has not been used since 2005, but the auto industry is going through a retro phase with other discarded names coming back, including the Ford Bronco, Lincoln Continental, and Mitsubishi Eclipse Cross. Automakers save a ton on marketing when known names are repurposed, and they have shown they have no qualms about putting past names on vehicles vastly different from their original namesakes. "I don't think there will be push back on the name," said Alan Batey, president of GM North America and head of Global Chevrolet. In 2003 almost 70 percent of the mid-size SUV segment was body on frame but today more than 90 percent are unibody because that is what customers want. Chevy did not want to get stuck on heritage and the Colorado pickup is there for those wanting body on frame, he said. The 2019 Blazer has little in common with its predecessor two-door truck-based SUV, but "the Blazer has attitude," said John Cafaro, executive director of Global Chevrolet Design. The crossover has a high beltline, bolder front, dual exhaust outlets, and an integrated tailgate spoiler. The lines are busy especially the rear quarter panel with black trim sweeping up to the spoiler to create the appearance of a floating roof. Design chief Mike Simcoe said no Blazer cues went into the design. The goal was to create the character of a Blazer with a mix of boldness and sport. Of the 17 competitors in the segment, most offer a third row. The Blazer will not, joining the Ford Edge, Nissan Murano, Jeep Grand Cherokee and the body-on-frame Toyota 4Runner. The base engine is GM's 193-hp, 188-lb-ft 2.5-liter inline-four, and buyers can opt for the 3.6-liter V-6 that generates 305 hp and 269 lb-ft of torque. Both are mated to a nine-speed automatic transmission and have stop-start technology. There are no plans to add a hybrid. Also optional is all-wheel drive including a twin-clutch all-wheel-drive system on the RS and Premier trims. The Blazer can tow up to 4,500 pounds with the V-6. Opt for the Hitch View to accurately back the hitch up to the trailer. See all 10 photos See all 10 photos Touches buyers can appreciate include a padded knee area, round air vents, and an available panoramic dual-pane power sunroof. There is an automated heated steering wheel and automated heated/cooled front seats while the second row seats fold flat, slide 5.5 inches, and adjust. You can use the key fob to roll down the windows and let the heat out before getting in the vehicle. There is an electronic-locking glove box and a new cargo management system, standard on RS and Premier, with rails and cargo fences to keep gear in place. The liftgate is hands-free. For connectivity there is an 8-inch touchscreen and 4G LTE Wi-Fi. It's Apple CarPlay and Android Auto compatible. Outlets are well positioned above the rubberized wireless charging mat. Inside there is nice contrast stitching and accents on the vents and shifter. The center console has a glittery black glossy finish in the Premium. The 2019 Blazer goes on sale in early 2019 hoping to attract a younger buyer with an average household income of $135,000. It will be built at the Ramos Arizpe plant in Mexico. Chevrolet's SUV lineup will now include, from smallest to largest: Trax, Equinox, Blazer, Traverse, and the truck-based Tahoe and Suburban.