Exxon CEO Rex Tillerson leaves at short notice

  • After eleven years on the job
  • Laud, praise and thanks for Tillerson
  • Darren Woods takes over

(management-change.com) — Irving, Texas, December 14, 2016 — Rex Tillerson, chief executive of Exxon, leaves. It is a change at short notice. As announced by Exxon Mobil Corporation in a news release on Wednesday, December 14, 2016, Rex W. Tillerson leaves the post as chief executive officer at the oil and gas corporation after eleven years on the job, effective January 01, 2017.

It is the end of an era.

Tillerson’s duties are taken over by Darren W. Woods, currently president at Exxon Mobil Corporation.

Tillerson will be nominated as President-elect Donald Trump’s secretary of state.

“Appropriate to move the retirement date”

Tillerson’s move is explained as follows. Exxon said: Tillerson “was scheduled to retire in March 2017 when he reached 65, the company’s mandatory retirement age for his position. After consideration, Tillerson concluded, and the board agreed, that given the significant requirements associated with the confirmation process, it was appropriate to move the retirement date”.

“Retire”

Exxon said: Tillerson, chairman and chief executive officer of Exxon Mobil Corporation, “has announced his intention to retire at year-end after more than 41 years of service”.

On the job as CEO since 2006

A native of Wichita Falls, Texas, Rex Tillerson earned a bachelor of science degree in civil engineering at the University of Texas at Austin before joining Exxon Company, U.S.A. in 1975 as a production engineer.

In 1989, he became general manager of Exxon Company U.S.A.’s central production division, responsible for oil and gas production operations throughout a large portion of Texas, Oklahoma, Arkansas and Kansas.

In 1992, Tillerson was named production advisor to Exxon Corporation. Three years later he was named president of Exxon Yemen Inc. and Esso Exploration and Production Khorat Inc., and in January 1998 became vice president of Exxon Ventures (CIS) Inc. and president of Exxon Neftegas Limited.

In those roles, he was responsible for Exxon’s holdings in Russia and the Caspian Sea as well as the Sakhalin I consortium operations offshore Sakhalin Island, Russia.

In December 1999, he became executive vice president of ExxonMobil Development Company.

Tillerson was named senior vice president of Exxon Mobil Corporation in August 2001, and was elected president of the corporation and member of the board of directors on March 1, 2004.

He assumed his current position on January 1, 2006.

Tillerson is a member of the executive committee and a former chairman of the American Petroleum Institute.

He is also a member of the Society of Petroleum Engineers and a trustee of the Center for Strategic and International Studies.

He is a member of the National Petroleum Council, a member of the Business Roundtable, a member of the Business Council, an honorary trustee of the Business Council for International Understanding, and a member of the Emergency Committee for American Trade.

In 2013, Tillerson was elected to the National Academy of Engineering.

Tillerson is the vice-chairman of the Ford’s Theatre Society, immediate past national president of the Boy Scouts of America, and a former director of the United Negro College Fund.

He is also a member of the Chancellor’s Council, Development Board and the Engineering Advisory Board for the University of Texas at Austin, where he was named a distinguished alumnus in 2007.

In 2011, he received an honorary doctorate engineering degree from the Worcester Polytechnic Institute.

In 2013, he was awarded the Order of Friendship by Vladimir Putin, president of the Russian Federation.

Read the full story in the management-change.com report 47.2016 ($).