Exxon Mobil Corp. is heading for a proxy showdown after activist investor Engine No. authority to make foreign exchange transactions. establishment of divisions of the Corporation and appointment of the presidents thereof. © Copyright 2003-2020 Exxon Mobil Corporation. Purposes of the committee. He previously served as Chief Operating Officer. Board of Directors in EXXON MOBIL CORP For its 2019 fiscal year, EXXON MOBIL CORP, listed the following board members on its annual proxy statement to the SEC. Mr. Palmisano also served as president, senior vice president and group executive for IBM’s Enterprise Systems Group, IBM Global Services, and IBM’s Personal Systems Group. … adoption of any new major employee benefit plans and programs and approval of any major amendment of an existing major employee benefit plan or program (e.g., Pension Plan and Savings Plan) which might involve substantial cost to the Corporation or significantly alter the scope, nature or degree of benefits. 1’s nomination of directors for election to ExxonMobil’s board … We intend to nominate four highly qualified, independent individuals who will bring to the ExxonMobil Board … ExxonMobil’s diverse portfolio of projects requires us to work in remote and sensitive environments, including deepwater and areas of high biodiversity. According to the email, ExxonMobil is "very close" to completing its jobs review and expects to give U.S. employees an update following a discussion with the company's board of directors. In particular, Board Committees work on key issues in greater detail than would be possible at full Board meetings. She also served as Senior Vice President, Corporate Strategic Services; and Senior Vice President and President, Document Systems and Solutions Group, and Business Group Operations, at Xerox. Company profile for Exxon Mobil Corp. including key executives, insider trading, ownership, revenue and average growth rates. Review corporate performance data, learn about our business model, read about our outlook for the energy industry, meet our management committee and more. 1 since mid-December. … We maintain a corporate-wide commitment to safeguarding the health and security of our employees and the public, responsibly managing our social impacts, and upholding respect for human rights in our operations. No director attended less than 75 percent of such … approval of the Annual Report and proxy statement. authority to maintain an inventory of Corporation stock in the Treasury. Hence, it is lucrative to become the board of director in the company. Highly Qualified, Independent Nominees Bring Range of Diversified Energy Experience Required to Protect … Sustainability-related topics typically fall under the purview of the Public Issues and Contributions Committee. ExxonMobil has engaged with Engine No. Of this total $120,000 was received as fees earned or paid in cash, $0 was received as … ExxonMobil … Pictured above is the ExxonMobil board of directors, as of May 1, 2020. Topic. Review corporate performance data, learn about our business model, read about our outlook for the energy industry, meet our management committee and more. 1’s nomination of directors for election to ExxonMobil’s board of directors at its 2021 annual meeting of shareholders. This is not a criticism of any director… 1, a new investment firm that seeks to enhance long-term value through active ownership, today announced that it has formally nominated four highly qualified, independent director candidates with diverse track records of success across the energy sector to the Exxon Mobil Corporation (NYSE: XOM) ("ExxonMobil" or the "Company") Board of Directors (the "Board… In doing this, we are also committed to protecting our people, the environment and the well-being of communities where we operate. He was elected executive vice president and president, Global Human Health, at Merck in 2007; and executive vice president and general counsel in 2006. Doing so will not be easy and will require a board with a diversified level of insight into the evolving trends, technologies, markets, and policies shaping the future of the industry, yet none of ExxonMobil’s independent directors have any other energy industry experience. Current public company directorships: Nestlé (April 2017 - Present); Uber Technologies, Inc. (May 2019 - Present), Past public company directorships: Veon (July 2017 - May 2020); Xerox (April 2007 - June 2017); American Express (January 2004 - May 2018). setting the date, time and place of shareholder meetings. As one of the world's largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world's growing needs for energy and high-quality chemical products. The board considers director longevity of service and experience of great value, but recognizes the importance of director refreshment. Article. Addressing the fundamental issues at ExxonMobil (NYSE: XOM) will not be easy and will require directors with relevant industry experience and skills. Current public company directorships: CVS Caremark (March 2013 - Present), Past public company directorships: JPMorgan Chase (March 2005 - April 2019); Chubb (May 2013 - January 2016); Johnson & Johnson (February 2001 - December 2012), Principal occupation: Chairman of the Board and Chief Executive Officer, Exxon Mobil Corporation. registration and listing of securities and appointment of transfer agents and registrars. 1 since mid-December. Exxon's board of directors is a Who's Who of blue-chip corporate executives, but none from the energy industry. Current public company directorships: Merck (January 2011 - Present), Age 63, Director since 2020 He also served as vice chairman from 2001 to 2002 and as worldwide chairman, Pharmaceuticals Group, from 1998 to 2001. determining whether any director candidate nominated for election under the proxy access or advance notice provisions of the By-Laws meets the requirements of those provisions. We operate facilities or market products all over the world and explore for oil and natural gas on six continents. Our efforts are underpinned by a board of directors that provides strategic and independent oversight of our corporation’s affairs. Current public company directorships: Brookfield Asset Management (May 2015 - Present); Lowe’s (November 2013 - Present); The Procter & Gamble Company (December 2009 - Present), Past public company directorships: WellPoint (June 2007 - August 2012). These visits enable directors to observe and provide input on safety, operating practices, environmental performance, technology, products, industry and corporate standards, and community engagement. Principal occupation: President Emerita of the Woods Hole Oceanographic Institution, a global research organization. From left: Angela Braly, Kenneth Frazier, Joseph Hooley (joined January 2020), Ursula Burns, Samuel Palmisano, Darren Woods, Douglas Oberhelman, Steven Reinemund (since retired), William Weldon, Susan Avery and Steven Kandarian. 1 formally nominated four directors to the board of the energy giant, which is facing … Previously, Mr. Kandarian had served as Executive Vice President and Chief Investment Officer. Business experience: Mr. Woods was elected chairman of the board and chief executive officer of Exxon Mobil Corporation in 2017. Click on the Committee title to view that Committee's charter. ExxonMobil’s board of directors provides oversight of the corporation’s affairs. In 2019, the board of directors met 10 times. At year-end 2019, 44 percent of the board’s independent directors were female and/or a racial/ethnic minority. IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) issued the following statement in response to Engine No. Pictured above is the ExxonMobil board of directors, as of May 1, 2020. Business experience: Mr. Kandarian was elected Chairman of the Board of MetLife in January 2012. Principal occupation: Chairman of the Board and Chief Executive Officer, Merck & Co. Business experience: Mr. Frazier was elected chairman and chief executive officer of Merck in 2011, and served as president from 2010 until 2019. Investors are seeking to overthrow Exxon’s board of directors in an attempt to reign in massive spending plans, according to reports. In doing this, we are also committed to protecting our people, the environment and the well-being of communities where we operate. Name Report The Board appoints Committees to help carry out its duties. With longstanding investments in technology coupled with the ingenuity of our people, we are well positioned to continue to responsibly meet the demands of a more prosperous world. He also served as vice president and chief financial officer of Caterpillar from 1995 to 1998. submission to shareholders of any action that requires shareholder approval. ExxonMobil’s directors, on average, attended approximately 96 percent of board and committee meetings during 2019. Principal occupation: Former Chairman of the Board and Chief Executive Officer, Caterpillar Inc. Business experience: Mr. Oberhelman was elected chairman and chief executive officer of Caterpillar in 2010 and relinquished these roles in 2017 and 2016, respectively. Exxon Mobil Corporation (XOM) issued the following statement in response to Engine No. A diversity of backgrounds, including gender and racial/ethnic diversity; Experience and demonstrated expertise in managing large, complex organizations such as that of chief executive officers or senior executives of a large company or organization with global operations; Expertise in financial and other risk management; Experience on one or more boards of significant public organizations or nonprofit organizations; Expertise resulting from significant professional or academically based scientific or research activities; and. authority to advance or loan money to, subscribe to equity capital in, guarantee obligations of, and accept deposits from affiliated companies. 1’s notice of nomination and nominees in line with the … She served as interim dean of the graduate school and vice chancellor for research, interim provost and executive vice chancellor for academic affairs at the University of Colorado Boulder from 2004 to 2008. Activist investor Engine No. Other directors serve as alternate members of the Executive Committee on a rotational basis. I. ExxonMobil has engaged with Engine No. Directors, on average, attended approximately 96 percent of Board and committee meetings. 1 is calling on ExxonMobil to refresh its board of directors in an effort to reposition itself for long-term, sustainable value creation. Recently, the independent lead director, along with the full board, provided oversight as management guided the company’s response to the COVID-19 pandemic through a series of actions that helped protect our employees, the communities in which we work and people around the world. investment plans which would involve significant commitments of financial, technological or human resources, or would involve significant risks for the Corporation. Experience with cyclical businesses such as commodities. Exxon Mobil Corporation Board of Directors Resolution Regarding Powers and Functions Reserved to the Board November 1, 2016 "RESOLVED, That, in light of the provisions of New Jersey law that the management of the business and affairs of the Corporation be managed by or under the direction of the Board of Directors … ExxonMobil employs a variety of policies and processes to uphold high ethical standards and promote transparency. The company’s board … As one of the world's largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world's growing needs for energy and high-quality chemical products. The lead director works with the compensation committee to oversee the annual evaluation of the CEO, the communication of resulting feedback to the CEO and the review of CEO succession plans. The committee oversees operational risks, such as those relating to employee and community safety, health and environmental performance, including actions taken to address climate change-related risks; security matters; and reviews and provides advice on objectives, policies and programs related to political and other contributions. To learn more about our COVID-19 response, please see the case study. Before his election as chairman and CEO, Woods was elected president of ExxonMobil and a member of the board of directors … Exxon Mobil Corporation Board of Directors Resolution Regarding Powers and Functions Reserved to the Board November 1, 2016 "RESOLVED, That, in light of the provisions of New Jersey law that the management of the business and affairs of the Corporation be managed by or under the direction of the Board of Directors … Engine No. As a whole, the board reviews litigation and other legal matters; political contributions, budget and policy; lobbying costs; developments in climate science and policy; the company’s work to project future global energy supply and demand, including the Outlook for Energy; the Energy & Carbon Summary; stewardship of business performance; and long-term strategic plans. , ownership, revenue and average growth rates the presiding director, and significant changes thereto thereof! 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