Jeffrey W. Ubben

Last updated
Jeffrey W. Ubben
Born
Jeffrey Williams Ubben

1961or1962(age 61–62) [1]
NationalityAmerican
Alma mater Duke University
Kellogg School of Management
OccupationBusinessman

Jeffrey Williams Ubben (born 1961 or 1962) is an American businessman. He is the co-founder and chairman of ValueAct Capital, a hedge fund based in San Francisco, California. Ubben is an activist board member of Exxon Mobil. [2] [3]

Contents

Early life

Jeffrey W. Ubben graduated from Duke University. [1] He received a master of business administration from the Kellogg School of Management at Northwestern University in 1987. [1] [4]

Business career

Ubben managed the Fidelity Value Fund at Fidelity Investments for eight years. [5] He was the Managing Partner of Blum Capital from 1995 to 2000. [1]

Ubben is the co-founder of ValueAct Capital, a hedge fund based in San Francisco, California, in 2000. [1] [4]

Ubben formerly was on the Boards of Directors of Acxiom, Gartner, Misys, Omnicare, and the Sara Lee Corporation. [5] He is on the board of directors of the Willis Group. [5] In September 2015, he was nominated to the Board of Directors of 21st Century Fox. [6] [7]

In August 2015, Ubben acquired a minority stake in the United Talent Agency. [8]

In June 2020, Ubben left ValueAct Capital in order to focus on social investing. [9]

Philanthropy

Ubben is chair emeritus of the national Board of Directors of the Posse Foundation. [10] He is on the Boards of Trustees of Northwestern University and the American Conservatory Theater. [11] [12] Ubben is also on the board of directors of the E.O. Wilson Biodiversity Foundation. [13] In September, 2019, it was announced that Jeff Ubben and his wife Laurie "have made an estate commitment of $50 million to support scholarships for undergraduate, graduate and professional school students" at Northwestern University, the largest donation towards financial aid in the university's history. [14]

Related Research Articles

Standard Oil Company, Inc., was an American oil production, transportation, refining, and marketing company that operated from 1870 to 1911. At its height, Standard Oil was the largest petroleum company in the world, and its success made its cofounder and chairman, John D. Rockefeller, among the wealthiest Americans of all time and among the richest people in modern history. Its history as one of the world's first and largest multinational corporations ended in 1911, when the U.S. Supreme Court ruled that it was an illegal monopoly.

<span class="mw-page-title-main">Lee Raymond</span> American businessman (born 1938)

Lee Roy Raymond is an American businessman and was the chief executive officer (CEO) and chairman of ExxonMobil from 1999 to 2005. He had previously been the CEO of Exxon since 1993. He joined the company in 1963 and served as president from 1987 and a director beginning in 1984.

<span class="mw-page-title-main">Rex Tillerson</span> 69th United States Secretary of State (born 1952)

Rex Wayne Tillerson is an American energy executive who served as the 69th United States secretary of state from 2017 to 2018 in the administration of Donald Trump. From 2006 to 2016, he was chairman and chief executive officer (CEO) of ExxonMobil.

<span class="mw-page-title-main">XTO Energy</span> American energy company, principally operating in North America

XTO Energy Inc. is an American energy company and subsidiary of ExxonMobil principally operating in North America. Acquired by ExxonMobil in 2010 and based out of Spring, Texas, it is involved with the production, processing, transportation, and development of oil and natural gas resources. The company specializes in developing shale gas via unconventional means like hydraulic fracturing and horizontal drilling.

<span class="mw-page-title-main">Steven Reinemund</span> American businessman (born 1948)

Steven S. Reinemund is an American businessman who was chairman and chief executive officer of PepsiCo between 2001 and 2006 and dean of the Schools of Business at Wake Forest University between 2008 and 2014. Reinemund spent 22 years working for PepsiCo in various capacities. During his CEO tenure at PepsiCo, revenues grew by $9 billion, net income rose 70%, earnings per share were up 80% and PepsiCo's market cap exceeded $100 billion. He led the acquisitions of several other food and beverage companies including Quaker Oats, Naked Juice, Izze and Stacy's Chips.

<span class="mw-page-title-main">ExxonMobil</span> American multinational oil, natural gas, chemicals and energy corporation

ExxonMobil Corporation is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller's Standard Oil. The company, which took its present name in 1999 per the merger of Exxon and Mobil, is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is headquartered near the Houston suburb of Spring, Texas, though officially incorporated in the U.S. state of New Jersey. It is the largest United States-based oil and gas producing company. ExxonMobil is also the eighth largest company in the world by revenue and the third largest in the US.

Gerald Tsai Jr. was a billionaire investor and philanthropist who helped build Fidelity Investments into a mutual fund powerhouse.

<span class="mw-page-title-main">Jeffrey A. Goldstein</span>

Jeffrey A. Goldstein is a United States economist who was Under Secretary of the Treasury for Domestic Finance from March 27, 2010, to 2011. Jeffrey is currently the chairman of the board of directors of Fidelity National Information Services (FIS).

<i>The Bay Citizen</i>

The Bay Citizen was a non-profit news organization covering the San Francisco Bay Area. It was founded as the Bay Area News Project in January 2010 with money provided by Warren Hellman's Hellman Family Foundation. On May 26, 2010 the organization launched the website, baycitizen.org. In June 2010 The Bay Citizen began producing content for the newly added biweekly two-page Bay Area Report published in The New York Times.

ValueAct Capital is a San Francisco-based investment company with a portfolio value calculated at about $9.269 billion on behalf of several institutional and individual investors. The company is a privately owned hedge fund that invests in the public equity markets.

Jeff Aronin is an American investor, entrepreneur, and biotechnology executive. He is founder, chairman and CEO of Paragon Biosciences, LLC, a global life science company that creates, builds, and funds innovative biology-based companies.

<span class="mw-page-title-main">Criticism of ExxonMobil</span> Overview of controversies and criticisms of ExxonMobil

As the world's largest majority investor-owned oil and gas corporation, ExxonMobil has received significant amounts of controversy and criticism, mostly due to its activities which increase the speed of climate change and its denial of global warming.

<span class="mw-page-title-main">ExxonMobil climate change denial</span> Overview of climate-related ExxonMobil controversies

From the 1980s to mid 2000s, ExxonMobil was a leader in climate change denial, opposing regulations to curtail global warming. For example, ExxonMobil was a significant influence in preventing ratification of the Kyoto Protocol by the United States. ExxonMobil funded organizations critical of the Kyoto Protocol and seeking to undermine public opinion about the scientific consensus that global warming is caused by the burning of fossil fuels. Of the major oil corporations, ExxonMobil has been the most active in the debate surrounding climate change. According to a 2007 analysis by the Union of Concerned Scientists, the company used many of the same strategies, tactics, organizations, and personnel the tobacco industry used in its denials of the link between lung cancer and smoking.

Darren W. Woods is an American businessman who is the chief executive officer (CEO) and chairman of ExxonMobil since January 1, 2017. His salary exceeds $20,000,000 per year.

Alexander Karsner is an American technology entrepreneur, venture capitalist, and energy and environmental policymaker.

Dan Ammann is a New Zealand business executive. He is the former CEO of Cruise, having served as the President of General Motors (GM) between 2015 and 2019. Ammann joined GM as Treasurer following its 2009 bankruptcy, and also served as the company's CFO. Prior to GM, Ammann was a managing director and head of industrial investment banking for Morgan Stanley. Ammann today is currently head of ExxonMobil Low Carbon Solutions.

Engine No. 1 is an American activist and impact-focused investment firm. It attracted attention with its campaign to replace four members of ExxonMobil's board of directors despite owning only 0.02% of the company's shares. The firm describes its investment approach as "active ownership", as it prefers to work with management instead of launching activist campaigns.

Kaisa Helena Hietala is a Finnish business executive and board professional.

ExxonMobil, an American multinational oil and gas corporation presently based out of Texas, has had one of the longest histories of any company in its industry. A direct descendant of John D. Rockefeller's Standard Oil, the company traces its roots as far back as 1886 to the founding of the Vacuum Oil Company, which would become part of ExxonMobil through its own merger with Mobil during the 1930s. The present name of the company comes from a 1999 merger of Standard Oil's New Jersey and New York successors, which adopted the names Exxon and Mobil respectively throughout the middle of the 20th century. Because of Standard Oil of New Jersey's ownership over all Standard Oil assets at the time of the 1911 breakup, ExxonMobil is seen by some as the definitive continuation of Standard Oil today.

References

  1. 1 2 3 4 5 "Company Overview of ValueAct Capital Partners, L.P.: Jeffrey Williams Ubben". Bloomberg Business. Retrieved October 26, 2015.
  2. "Exxon considering to add activist investor Jeff Ubben to board". thechronicleherald.
  3. "Michael Angelakis and Jeffrey Ubben Join ExxonMobil Board of Directors". finance.yahoo.com.
  4. 1 2 Farell, Rachel. "Alumni Profiles: Jeff Ubben '87". Kellogg School of Management. Retrieved October 26, 2015.
  5. 1 2 3 "Board of Directors". About Willis. Retrieved October 26, 2015.
  6. Hagey, Keach; Benoit, David (September 29, 2015). "Fox Nominates ValueAct CEO Jeffrey Ubben to Board: Ubben says Netflix's industry impact is catalyst for 'fundamental change in strategy'". The Wall Street Journal. Retrieved October 25, 2015.
  7. Lang, Brent (September 29, 2015). "21st Century Fox Taps Investor Jeffrey Ubben to Join Board". Variety. Retrieved October 25, 2015.
  8. Barnes, Brooks (August 20, 2015). "Jeffrey Ubben Buys Minority Stake in United Talent Agency". The New York Times. Retrieved October 26, 2015.
  9. Stevens, Pippa (23 June 2020). "Jeff Ubben tells the FT he is leaving ValueAct for social investing: 'Finance is, like, done'". CNBC. Retrieved 16 September 2020.
  10. "Posse Board of Directors" . Retrieved May 29, 2018.
  11. "Trustees". Northwestern University. Retrieved October 26, 2015.
  12. "Board of Trustees". American Conservatory Theater. Retrieved October 26, 2015.
  13. "E.O. Wilson Biodiversity Foundation » Management Team" . Retrieved 2019-06-10.
  14. "Northwestern Receives Largest Gift to Financial Aid in Its History". We Will. The Campaign for Northwestern. September 12, 2019. Retrieved 23 September 2019.