8-KLeadership Changes

EXXON MOBIL CORP 8-K Report, Executive Changes (Feb 2, 2021)

Filed February 2, 2021For Securities:XOM

Summary

Exxon Mobil Corporation (XOM) filed an 8-K on February 2, 2021, reporting a key change in its principal accounting officer and the appointment of a new director. David S. Rosenthal, Vice President and Controller, announced his resignation effective March 1, 2021, in anticipation of his planned retirement on July 1, 2021. This transition marks a change in a critical financial reporting role within the company. Additionally, the company elected Len M. Fox as the new Vice President and Controller, effective March 1, 2021. Mr. Fox brings extensive experience from his previous roles within ExxonMobil. The filing also announces the addition of Tan Sri Wan Zulkiflee Wan Arrifin as a new non-employee director, effective January 27, 2021, who will serve on the Board Affairs Committee and the Public Issues and Contributions Committee. New directors will receive a restricted stock grant.

Key Highlights

  • 1David S. Rosenthal, VP and Controller (principal accounting officer), to resign effective March 1, 2021, due to planned retirement.
  • 2Len M. Fox elected as the new VP and Controller (principal accounting officer), effective March 1, 2021.
  • 3Mr. Fox has served in various senior financial roles within ExxonMobil for over five years.
  • 4Tan Sri Wan Zulkiflee Wan Arrifin appointed as a new non-employee director, effective January 27, 2021.
  • 5New director Wan Zulkiflee will serve on the Board Affairs and Public Issues and Contributions Committees.
  • 6New non-employee directors receive an initial grant of 8,000 restricted shares of common stock.
  • 7The filing includes a press release as Exhibit 99.1 regarding the new director's appointment.

Frequently Asked Questions

Len M. Fox has been elected as the new Vice President and Controller, effective March 1, 2021.

The change is effective March 1, 2021. David S. Rosenthal will resign on this date, and Len M. Fox will assume the role.

Tan Sri Wan Zulkiflee Wan Arrifin's appointment strengthens the Board of Directors. He will bring his experience to the Board Affairs Committee and the Public Issues and Contributions Committee.

New non-employee directors, including Tan Sri Wan Zulkiflee Wan Arrifin, receive an initial one-time grant of 8,000 shares of restricted ExxonMobil common stock. They then receive compensation consistent with other non-employee directors as detailed in the company's proxy statement.