Engine No. 1 had been in the news during May and June this year after it managed to win three board seats at Exxon Mobil Corporation (NYSE: XOM ) in a public bid aimed at forcing the energy firm to accelerate energy transition plans. On September 3, business news publication The Wall Street Journal reported, citing sources, that the hedge fund was planning a similar coup at Chevron Corporation (NYSE: CVX ). According to the report, meetings had been held between Chevron Corporation (NYSE: CVX) and Engine representatives over the matter.