Summary
Imperial Oil Ltd. (IMO) announced a change in its board of directors through an 8-K filing on November 1, 2018. The company disclosed that D.G. (Jerry) Wascom has resigned from his director position, effective October 31, 2018. This change comes as the company appointed D.C. (Dave) Brownell to its board, effective November 1, 2018, following a recommendation from the nominations and corporate governance committee.
Key Highlights
- 1D.G. (Jerry) Wascom has resigned as a director of Imperial Oil Ltd., effective October 31, 2018.
- 2D.C. (Dave) Brownell has been appointed as a new director to the board, effective November 1, 2018.
- 3Mr. Brownell's appointment follows a recommendation from the company's nominations and corporate governance committee.
- 4Mr. Brownell is currently the senior vice president of global operations for ExxonMobil Fuels & Lubricants Company.
- 5As Mr. Brownell is employed by Exxon Mobil Corporation, he will not receive any compensation for his role as a director.
- 6Mr. Brownell will serve on several board committees, including executive resources, public policy and corporate responsibility, nominations and corporate governance, and community collaboration and engagement.
Frequently Asked Questions
The filing states that Mr. Wascom "announced his intention to resign as a director." The specific reasons for his resignation were not detailed in this 8-K filing.
Mr. Brownell is the senior vice president of global operations for ExxonMobil Fuels & Lubricants Company. His appointment to the board brings experience from a major affiliate of Imperial Oil.
No, Mr. Brownell will not receive any compensation for his role as a director because he is employed by Exxon Mobil Corporation.
Mr. Brownell will be a member of the executive resources committee, public policy and corporate responsibility committee, nominations and corporate governance committee, and community collaboration and engagement committee.