IRVING, Texas--(BUSINESS WIRE)--Dec. 14, 2016--
Rex W. Tillerson, chairman and chief executive officer of Exxon
Mobil Corporation (NYSE:XOM), has announced his intention to retire
at year-end after more than 41 years of service.
Darren W. Woods, currently president of Exxon Mobil Corporation, has
been elected chairman and chief executive officer by the board of
directors effective Jan. 1, 2017.
The board of directors congratulated Tillerson on his nomination for the
position of U.S. secretary of state.
“We thank Rex for his leadership, service and dedication to ExxonMobil,”
said the board.
“He led the company with integrity and honor, ensuring that safety and
environmental protection were at the forefront of everything we do,
generating value for shareholders and highlighting the impressive
accomplishments of the company’s diverse workforce throughout the world.
We know that his service to the nation as secretary of state will be
equally successful and distinguished.”
Tillerson was scheduled to retire in March 2017 when he reached 65, the
company’s mandatory retirement age for his position. After
consideration, Tillerson concluded, and the board agreed, that given the
significant requirements associated with the confirmation process, it
was appropriate to move the retirement date.
Tillerson joined Exxon Company USA in 1975 as a production engineer. He
held various senior roles in the corporation throughout his career
spanning more than four decades, including executive vice president of
ExxonMobil Development Company,
He was named senior vice president of Exxon Mobil Corporation in 2001
and was elected president and member of the board of directors in 2004.
Tillerson was elected chairman and chief executive officer in January
2006.
Woods, 51, was elected president of ExxonMobil and a member of the board
of directors in January 2016.
Born in Wichita, Kansas, Woods joined Exxon Company International in
1992. During his career he held various senior domestic and
international positions in ExxonMobil Refining & Supply Company,
ExxonMobil Chemical Company and Exxon Company International. He also
served as manager of ExxonMobil investor relations.
In 2012, he was appointed president of ExxonMobil Refining & Supply
Company and a vice president of the corporation. In this role, Woods had
primary responsibility for the company’s global refining, supply and
transportation activities. In 2014, he was named a senior vice president
of the corporation and became a member of its management committee.
Woods earned a bachelor’s degree in electrical engineering from Texas
A&M University and a master’s degree in business administration from
Northwestern University’s Kellogg School of Management.
Effective and disciplined succession planning is critical to the
corporation’s ongoing success and a key component of its competitive
advantage. This change in leadership is consistent with the board of
directors' succession plan developed years in advance and demonstrates
the strength of the management development system.
With the retirement of Tillerson, the ExxonMobil board now is comprised
of 12 directors, 11 of whom are non-employees.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world’s growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources and is one of the world’s largest integrated refiners,
marketers of petroleum products and chemical manufacturers. For more
information, visit www.exxonmobil.com
or follow us on Twitter www.twitter.com/exxonmobil.
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Source: Exxon Mobil Corporation
ExxonMobil
Media Relations, 972-444-1107
