8-KLeadership Changes

EXXON MOBIL CORP 8-K Report, Executive Changes (Nov 2, 2012)

Filed November 2, 2012For Securities:XOM

Summary

Exxon Mobil Corporation (XOM) announced a significant addition to its Board of Directors through the election of Ursula M. Burns, effective November 27, 2012. Ms. Burns brings a wealth of experience to the board, currently serving as Chairman and CEO of Xerox Corporation. Her appointment is expected to enhance the strategic oversight and governance of Exxon Mobil. Ms. Burns' role will include active participation in key board committees, specifically the Audit and Finance Committees, with an additional position as an alternate member of the Executive Committee. This aligns with Exxon Mobil's commitment to robust financial oversight and strategic decision-making. In accordance with the company's nonemployee director compensation plan, Ms. Burns will receive 8,000 shares of restricted stock upon her election and will be compensated similarly to other nonemployee directors.

Key Highlights

  • 1Ursula M. Burns elected as a nonemployee director, effective November 27, 2012.
  • 2Ms. Burns is currently Chairman and CEO of Xerox Corporation.
  • 3Appointment strengthens the Board of Directors with experienced leadership.
  • 4Ms. Burns appointed to the Audit and Finance Committees.
  • 5Ms. Burns will also serve as an alternate member of the Executive Committee.
  • 6Ms. Burns will receive 8,000 shares of restricted stock upon election.
  • 7Ms. Burns will receive compensation consistent with other nonemployee directors.

Frequently Asked Questions

Ursula M. Burns is a seasoned executive who currently serves as the Chairman and Chief Executive Officer of Xerox Corporation. Her extensive experience in corporate leadership is being brought to Exxon Mobil's Board of Directors.

Ms. Burns has been appointed to the registrant's Audit and Finance Committees. She will also serve as an alternate member of the registrant's Executive Committee.

In line with Exxon Mobil's Restricted Stock Plan for Nonemployee Directors, Ms. Burns will be granted 8,000 shares of restricted stock upon her election as a director. She will then receive annual compensation equivalent to that of the corporation's other nonemployee directors.

Ms. Ursula M. Burns' election as a nonemployee director is effective on November 27, 2012.