Third proxy firm backs Exxon CEO/chairman split

NEW YORK, May 15 (Reuters) - Shareholder advisory service Proxy Governance Inc has joined the other two major proxy advisory firms in recommending that Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) shareholders vote to urge the company to split its chairman and chief executive positions.

Rex Tillerson currently holds both jobs.

"Exxon Mobil appears to need a vision for the future that transcends engineering excellence, conservative accounting, rigorous cost discipline and a tough 'my way or the highway" leadership style,'" Proxy Governance said in a report issued on Thursday.

The group criticized the company's current strategy, saying that Exxon Mobil's conservative drilling plans and huge share buybacks amount to a slow liquidation of the company.

"Given these circumstances, and the compelling need for good lines of communication between the board of directors and major shareholders at this important juncture in the company's history, we believe that an independent chair would be beneficial to Exxon Mobil at this time," Proxy Governance said.

Shareholder advisers ISS and Glass Lewis have also backed the proposal to split the positions, which has drawn media attention, as many members of the Rockefeller family have publicly supported the move.

John D. Rockefeller founded Standard Oil Co in 1870, and it became a precursor to Exxon Mobil. (Reporting by Michael Erman, editing by Gerald E. McCormick)