8-KLeadership Changes

EXXON MOBIL CORP 8-K Report, Executive Changes (Jan 26, 2017)

Filed January 26, 2017For Securities:XOM

Summary

Exxon Mobil Corporation (XOM) filed an 8-K report on January 26, 2017, to announce a change in its Board of Directors. Effective February 1, 2017, Dr. Susan K. Avery was elected as a new non-employee director. This appointment adds new expertise to the board and is part of the regular refreshment and governance processes of the company. Dr. Avery will be assigned to the Public Issues and Contributions Committee and the Board Affairs Committee. As is standard for new non-employee directors, she will receive an initial grant of 8,000 shares of restricted ExxonMobil common stock and will subsequently receive compensation consistent with other non-employee directors, as detailed in the company's proxy statement.

Key Highlights

  • 1Exxon Mobil Corporation announced the election of Dr. Susan K. Avery as a new non-employee director.
  • 2The appointment is effective February 1, 2017.
  • 3Dr. Avery will serve on the Public Issues and Contributions Committee and the Board Affairs Committee.
  • 4New non-employee directors, including Dr. Avery, receive an initial grant of 8,000 shares of restricted ExxonMobil common stock.
  • 5Dr. Avery's compensation will align with that of other non-employee directors, as outlined in the company's proxy statement.

Frequently Asked Questions

Dr. Susan K. Avery is a new non-employee director appointed to Exxon Mobil's Board of Directors. While the filing doesn't detail her specific background, such appointments typically bring new perspectives and expertise to the board, enhancing corporate governance and strategic oversight. Investors can find more information about her qualifications in future proxy statements.

New non-employee directors, including Dr. Avery, receive an initial one-time grant of 8,000 shares of restricted ExxonMobil common stock. Following this initial grant, their compensation will be consistent with that of other non-employee directors, as detailed in the company's most recent proxy statement dated April 13, 2016.

Dr. Avery will initially be a member of the Board's Public Issues and Contributions Committee and the Board Affairs Committee.