Exxon Mobil Corporation (NASDAQ:XOM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On December 14, 2016, R.W. Tillerson, Chairman and Chief Executive Officer and a Director of the Corporation, announced his intention to retire effective at year-end 2016.
(c) Also on December 14, 2016, the Board of Directors elected D.W. Woods, currently President and a Director of the Corporation, to the additional positions of Chairman and Chief Executive Officer effective January 1, 2017.
Mr. Woods, 51, was Vice President, Supply & Transportation of ExxonMobil Refining & Supply Company from 2010 to 2012. He was President of ExxonMobil Refining & Supply Company and a Vice President of Exxon Mobil Corporation from 2012 to 2014. He was Senior Vice President of Exxon Mobil Corporation from 2014 to 2015 and became a Director and President of Exxon Mobil Corporation on January 1, 2016.
Like all ExxonMobil executive officers, Mr. Woods is an at-will employee and does not have an employment contract. No additional compensatory grant or award was made to Mr. Woods in connection with his election as Chairman and Chief Executive Officer.
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