ExxonMobil Announces New Leadership to Drive Growth Forward

ExxonMobil's Leadership Transition and Future Directions

ExxonMobil has recently made significant announcements regarding its leadership team that reflect the company's commitment to innovation and growth in the energy sector. Effective from February 1, 2025, Liam M. Mallon, the president of ExxonMobil Upstream Company and a vice president at Exxon Mobil Corporation, will be retiring. The board has appointed Dan L. Ammann as the new president of the Upstream Company, further solidifying the corporate strategy of leveraging diverse talent within the organization.

A New Direction for the Upstream Sector

As the newly appointed president, Dan L. Ammann will continue his role as vice president of Exxon Mobil Corporation. This dual responsibility allows him to bring fresh insights and a renewed focus on strategic growth and operational efficiency. His previous experience in leading the Low Carbon Solutions business since 2022 positions him uniquely to lead the Upstream Company into the future.

Growth in Low Carbon Solutions

The leadership changes also include the appointment of Barry L. Engle as president of Low Carbon Solutions and vice president for ExxonMobil Corporation, which will come into effect on January 1, 2025. Engle's vast experience in the automotive sector, including his notable tenure at General Motors, is expected to drive innovation in ExxonMobil’s sustainability initiatives.

Darren Woods' Perspective

Darren Woods, chairman and chief executive officer of ExxonMobil, expressed gratitude towards Mallon for his years of dedicated service, stating, “We thank Liam for his long-standing, dedicated service to the company, and we wish him all the best in his well-deserved retirement.” Such leadership transitions reflect ExxonMobil's commitment to integrating new perspectives into their operations, aimed at fortifying their already stellar executive team.

Business Background and Future Initiatives

Since Mallon became president of ExxonMobil Upstream Company in 2022, he has played a pivotal role in steering the company's focus on upstream activities. Having joined ExxonMobil in 1990, Mallon has extensive experience that spans over three decades within the firm.

Ammann's role as president of Low Carbon Solutions has reinforced ExxonMobil's commitment to sustainable practices, focusing on large-scale emissions-reduction strategies crucial for modern industries. With earlier executive roles at Cruise and General Motors, Ammann is well placed to integrate innovative approaches in tackling energy efficiency and sustainability.

Similarly, Engle joined ExxonMobil in September 2024 and brings three decades of automotive industry experience, primarily with General Motors. His leadership experience as president of GM North America, and previously president of GM International, enhances the company's capabilities to develop effective low carbon strategies for energy and transportation sectors.

About ExxonMobil

ExxonMobil is recognized as one of the largest publicly traded international energy and petrochemical companies globally. The firm is dedicated to creating innovative solutions that enhance quality of life while meeting the evolving energy needs of society.

With primary segments in Upstream, Product Solutions, and Low Carbon Solutions, ExxonMobil delivers essential products such as energy, chemicals, and lubricants which are integral to the modern lifestyle. The company is also prominent for its extensive efforts in reducing greenhouse gas emissions, aiming to cut corporate-wide greenhouse gas intensity by 20-30% from 2016 levels by 2030. This ambitious target demonstrates ExxonMobil's proactive stance in environmental responsibility as they aim for net-zero emissions by 2050.

ExxonMobil maintains an industry-leading portfolio and has built the largest CO₂ pipeline network in the United States, demonstrating its commitment to future energy solutions that emphasize sustainability and efficiency.

Frequently Asked Questions

What are the key leadership changes at ExxonMobil?

ExxonMobil has appointed Dan L. Ammann as president of the Upstream Company, and Barry L. Engle as president of Low Carbon Solutions. Liam M. Mallon will retire on February 1, 2025.

What does Dan Ammann's role encompass?

Dan Ammann will lead the Upstream Company while continuing his responsibilities in the Low Carbon Solutions business to further enhance the company's growth strategies.

Why is Barry Engle's appointment significant?

Barry Engle's extensive automotive industry experience, including leadership at GM, is essential for driving ExxonMobil's sustainability initiatives in the Low Carbon Solutions sector.

How is ExxonMobil addressing climate change?

ExxonMobil has set ambitious greenhouse gas emission-reduction plans, aiming for significant reductions by 2030 and a target for net-zero emissions by 2050.

What is ExxonMobil's commitment to technology and emissions reduction?

The company emphasizes advancements in technology and consistent government policies to support its ambitious sustainability targets in energy production.

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