T-Rex Retires as Chair/CEO from Exxon, Darren Woods Replaces Him

Darren Woods – New Exxon CEO

As we reported yesterday, President-Elect Trump has nominated Exxon Mobil CEO and Chairman of the Board, Rex Tillerson (T-Rex) to become the next Secretary of State (see Trumps Picks Fossil Fuel Advocates for Sec State & Dept of Energy). It was rumored that Tillerson was planning on retiring next year anyway. Trumps nomination has sped up that process. Exxon is the largest publicly traded oil company in the U.S. and the world (although there are four other state-owned, non-public companies that are bigger, revenue-wise, see Wikipedia). Exxon’s shareholders, while honored that Tillerson has been tapped for Sec State, are skittish and want to know what the plan is moving forward. That plan is now clear: Exxon yesterday announced that Darren Woods, the youthful (51 years old) current president of the company, will be elevated as Chairman of the board and CEO, to replace Tillerson…

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