8-KLeadership Changes

EXXON MOBIL CORP 8-K Report, Executive Changes (Feb 29, 2012)

Filed February 29, 2012For Securities:XOM

Summary

Exxon Mobil Corporation (XOM) filed an 8-K report on February 28, 2012, disclosing a change in its Board of Directors. The primary focus of this filing is the election of Henrietta H. Fore as a new non-employee director, effective February 29, 2012. Ms. Fore brings experience from her role as chairman and chief executive officer of Holsman International. Ms. Fore's appointment is accompanied by her committee assignments, including the Board Affairs and Public Issues and Contribution Committees, and alternate membership on the Executive Committee. As part of her compensation, she will receive 8,000 shares of restricted stock upon her election and will be compensated similarly to other non-employee directors. This filing provides an update on the composition of Exxon Mobil's board, which can be relevant for understanding corporate governance and strategic oversight.

Key Highlights

  • 1Exxon Mobil Corporation (XOM) elected Henrietta H. Fore as a non-employee director, effective February 29, 2012.
  • 2Ms. Fore currently serves as chairman and chief executive officer of Holsman International.
  • 3She has been appointed to the Board Affairs and Public Issues and Contribution Committees.
  • 4Ms. Fore will also serve as an alternate member of the registrant's Executive Committee.
  • 5Upon her election, Ms. Fore will be granted 8,000 shares of restricted stock.
  • 6She will receive annual compensation consistent with other non-employee directors.

Frequently Asked Questions

Henrietta H. Fore is a new non-employee director elected to Exxon Mobil's Board of Directors. She is currently the chairman and chief executive officer of Holsman International, an investment and management company, bringing relevant executive and investment experience to the board.

Ms. Fore's appointment adds a new independent voice to the Board of Directors. Her committee assignments, particularly to Board Affairs and Public Issues, suggest a focus on governance and public engagement, potentially influencing strategic decisions and corporate oversight.

As per the company's Restricted Stock Plan for Nonemployee Directors, Ms. Fore will be granted 8,000 shares of restricted stock upon her election. She will also receive the same annual compensation as other non-employee directors, which is detailed in the company's proxy statement.