Summary
ExxonMobil Corporation (XOM) filed an 8-K on March 1, 2021, reporting key changes within its leadership and board of directors. Notably, N. W. Duffin, President of ExxonMobil Global Projects Company and a named executive officer, announced his intention to retire effective April 1, 2021. This marks a transition for a significant operational role within the company. In addition to this departure, ExxonMobil has elected two new independent directors to its Board: Michael Angelakis and Jeffrey Ubben, effective March 1, 2021. These appointments are significant as they bring new perspectives and potentially new areas of expertise to the company's governance. Both new directors will receive initial grants of restricted stock and will serve on various board committees, including Audit, Finance, and Public Issues and Contributions.
Key Highlights
- 1N. W. Duffin, President of ExxonMobil Global Projects Company and a named executive officer, intends to retire effective April 1, 2021.
- 2Michael Angelakis has been elected as a new non-employee director, effective March 1, 2021.
- 3Jeffrey Ubben has been elected as a new non-employee director, effective March 1, 2021.
- 4Mr. Angelakis will serve on the Audit Committee and Finance Committee.
- 5Mr. Ubben will serve on the Finance Committee and Public Issues and Contributions Committee.
- 6Both new directors will receive an initial grant of 8,000 shares of restricted ExxonMobil common stock.
- 7The company issued a press release regarding these board appointments, which is attached as an exhibit.