Structural cost savings describe decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, and other cost-saving measures that are expected to be sustainable compared to 2019 levels. OneDayhas promoted Kelsey Rea to the director of people and culture at the video app company. Fridays. Enjoy unlimited access to all of our incredible journalism, in print and digital. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. increased marketing and . Andrew Swiger to retire as senior vice president of Exxon Mobil Based in Port Moresby, Peter is responsible for ExxonMobil operations in-country, including the Papua New Guinea LNG project. This press release also includes earnings/(loss) excluding identified items (non-GAAP), which are earnings/(loss) excluding individually significant non-operational events with, typically, an absolute corporate total earnings impact of at least $250 million in a given quarter. Morford is currently deputy general counsel. UT Dallas is paying students to get vaccinated. Website. Vice President of Global LNG Marketing and Chairman - ExxonMobil LNG Market Development: 000 0000: 000000 00000: Self: Board Member & Member of Compensation (Chair); Environment, Safety and Public Policy Committee . Dominic Genetti HR Full Circle Consulting LLC - East Peoria In her new role, Stockstill will Medical technology firm Becton Dickinson and Company (BD) has named Michelle Quinn as executive vice president and general counsel for the company NYSE-listed Cushman & Wakefield has recruited Noelle Perkins to become executive vice president, general counsel and corporate secretary, Starbucks Coffee Company has hired Brad Lerman as executive vice president and general counsel. ExxonMobil and Linde, one of the world's leading global industrial gases and engineering companies, have entered into a long-term commercial agreement in which ExxonMobil, subject to government permitting, will capture, transport, and permanently store up to 2.2 million metric tons of carbon dioxide (CO2) each year from Linde's new clean hydrogen production facility in Beaumont, Texas, with operations starting as soon as 2025. Statements related to outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions in this release, are forward-looking statements. Net production in the first quarter was 3.8 million oil-equivalent barrels per day, an increase of nearly 160,000 oil-equivalent barrels per day compared to the same quarter last year. Heres how to respond, Morrow Sodali top 40 activist quarterly ownership analysis - fourth quarter 2022, Cushman & Wakefield recruits general counsel, Applied Industrial Technologies hires new general counsel, Daimler Truck North America promotes general counsel to legal chief. The company successfully completed the ramp-up of the Beaumont Refinery expansion, demonstrating 250,000 barrels per day of crude distillation capacity and expanding its integration advantage by capitalizing on the growth of lighter crude oil from the Upstream's Permian assets. Exxon Mobil Corporation officers D. W. Woods Chairman of the Board (1) N. A. Chapman Senior Vice President (1) K. A. Mikells Senior Vice President and Chief Financial Officer (1) J. P. Williams, Jr. Senior Vice President (1) D. L. Ammann Vice President J. R. Chapman Vice President, Tax and Treasurer (1) Compensation data tools, salary structures, surveys and benchmarks. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Delivered record first quarter earnings of $11.4 billion, demonstrating structural earnings improvements through growth of advantaged assets, mix improvements, and cost and execution efficiencies, Increased oil and gas net production by nearly 300,000 oil-equivalent barrels per day versus first-quarter 2022, excluding divestments, entitlements, and Sakhalin-1 expropriation, Started up the Beaumont Refinery expansion and reached full capacity of 250,000 barrels of production per day to help meet global demand, Announced final investment decision for the Uaru offshore development and two new discoveries in Guyana, Grew Low Carbon Solutions business with the execution of a new long-term customer contract for carbon capture, transportation, and storage. Augustine Agency hires Barbara DAmato, who will serve as a board advisor to the agency. This is the fifth offshore project and is expected to provide an additional 250,000 oil-equivalent barrels per day of gross capacity with start-up targeted for 2026. In 1998 he became co-ordinator of the firms upstream litigation work in Houston and undertook what the company calls several special assignments before becoming chief attorney of ExxonMobil Chemical Company in 2000 and chief attorney of ExxonMobil Gas & Power Marketing Company in 2003. Salary.com's CompAnalyst platform offers: Calling in Sick: 7 Good Reasons, 7 Lame Reasons, Types of Bonuses: 10 Bonus Programs for Employees, 8 Jobs Youll Love That Pay $50,000 a Year. Peter Clarke The company believes it is useful for the Corporation and its investors to understand the total tax burden imposed on the Corporations products and earnings. The total change between periods in expenses above will reflect both structural cost savings and other changes in spend, including market factors, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations. ExxonMobil's key executives include Darren W. Woods and 13 others. , This was a decrease of $176 million versus the fourth quarter driven by lower financing costs. Energy giant ExxonMobil has appointed Kathryn Mikells as chief financial officer. Ebner was appointed assistant general counsel in 2009, and then general counsel and vice president in 2016. The Baton Rouge polypropylene expansion, which started up in December, delivered positive earnings and cash contribution during its first full quarter of operations. In addition, two new exploration discoveries were made this year. He was also with Cypress Equities and GGP (now Brookfield Retail) earlier in his career. Boards in the pharmaceutical and life sciences sector face increasingly difficult decisions, according to a We asked key figures what would help boards this year. A reconciliation to earnings is shown for 2023 and 2022 periods in Attachments II-a and II-b. General Manager Mikells joins ExxonMobil from Diageo plc, where she held the position of chief financial officer since 2015 and was a member of the board of directors. Swiger joined Mobil in 1978 as an operations engineer in Morgan City, Louisiana, after receiving a petroleum engineering degree from the Colorado School of Mines. ExxonMobil Upstream Oil & Gas Company. The company believes it is useful for the Corporation and its investors to understand the total tax burden imposed on the Corporations products and earnings. She was the director of community affairs and youth outreach for nearly eight years. Manager LNG Operations We welcome Kathy to ExxonMobil and look forward to the perspective and experience she brings as we work together to deliver on our strategies and increase shareholder value.. Management Committee | ExxonMobil We thank Randy for more than 40 years of service to the company, most recently as our general counsel, ExxonMobil CEO and chair Darren Woods says in a statement. , She will take up her new role next month, when current CFO Andrew Swiger steps down after 43 years at the . We welcome Matt to ExxonMobil and will leverage his knowledge and experience to enhance our corporate communications, said Darren Woods, chief executive officer and chairman. This report from Board Agenda and Mazars, in assoc An internal investigation must be handled meticulo FREE - Add your company profile to our Corporate & Advisory Directory. First-quarter 2023 earnings were $11.4 billion compared with $12.8 billion in the fourth quarter of 2022. Copyright 2003-2023 Exxon Mobil Corporation. Identified items unfavorably impacted earnings by $158 million this quarter, down from $561 million in the previous quarter. Pamela Kearney Skaufel - Vice President Global Procurement - ExxonMobil Earnings excluding identified items decreased from $8.8 billion to $6.6 billion. Executes multiple high impact initiatives to achieve overall corporate goals. Based in Singapore, Andrew is responsible for the ExxonMobil LNG sales and purchases portfolio and oversees the marketing of LNG for ExxonMobils equity projects and joint ventures. Exxon Mobil Corp. XOM (U.S.: NYSE) - The Wall Street Journal In 1999, he became president and general manager of Mobil Oil Canada, and was later appointed corporate production advisor at ExxonMobils headquarters in Irving, Texas. Rea, who previously served as an executive assistant, will now be responsible for HR, culture, talent acquisition, onboarding, learning and development, and compensation and benefits. The earnings/(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several periods or several segments. Susan Simmons joins Agents National Title Insurance as its new Southwest agency operations manager. Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated. July 19 (Reuters) - Exxon Mobil Corp's (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major's management committee, as energy firms. This press release also references free cash flow (non-GAAP). Claim Your Free Employer Account. A reconciliation to net cash provided by operating activities for the 2022 and 2023 periods is shown on page 8. Mortlock has been the energy infrastructure company's chief operating officer since 2019, and will take over as CEO from Alan Foy on 1 March. Receive independent news, thoughtful journalism & expert insights about leadership, corporate governance & key boardroom issues straight to your inbox every week. The company announced its final investment decision for the Uaru development in Guyana. Employees 62,000. It combines Income taxes and Total other taxes and duties with sales-based taxes, which are reported net in the income statement. The term resource base or similar terms are not intended to correspond to SEC definitions such as probable or possible reserves. The term resource base or similar terms are not intended to correspond to SEC definitions such as probable or possible reserves. Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Erich Stephen - Head Of Marketing - ExxonMobil | LinkedIn Improved finished lubes margins partially offset lower industry basestock prices. Frequently Used Terms and Non-GAAP Measures. A reconciliation to total taxes is shown in Attachment I-a. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. James Moretti Chief Operations Officer James Moretti serves as the Chief Operations Officer of ExxonMobil. A reconciliation to net cash provided by operating activities for the 2022 and 2023 periods is shown on page 8. Forward-looking and other statements regarding our environmental, social and other sustainability efforts and aspirations are not an indication that these statements are necessarily material to investors or requiring disclosure in our filing with the SEC. Before that, a partner at Tricom/MGHerring. As the agency looks to grow beyond Texas, she will specialize her efforts in technology. Global LNG Leadership Team | ExxonMobil LNG Compared to the same quarter last year, earnings increased by $298 million, with favorable pricing actions partially offset by unfavorable foreign exchange impacts. Excluding divestments, entitlements and the Sakhalin-1 expropriation, net production increased nearly 300,000 oil-equivalent barrels per day driven by advantaged projects in Guyana and the Permian. Energy Products earnings totaled $4.2 billion, up $113 million from the fourth quarter. Australia LNG. If you continue to use this site we will assume that you are happy with it. Exxon Mobil adds first woman top-tier executive with external - Reuters Morford joined Irving, Texas-based ExxonMobil last year as deputy general counsel having previously worked at the US Department of Justice (DoJ) and in private industry. Positive drivers were volume and mix improvements driven by reliable operations and the Beaumont refinery expansion start-up and the absence of unfavorable prior-quarter unsettled derivatives. Net production in the first quarter was 3.8 million oil-equivalent barrels per day, an increase of nearly 160,000 oil-equivalent barrels per day compared to the same quarter last year. In addition to having more than 25 years of sales management experience in the automotive and real estate industry, Brian brings a depth of experience in EV adoption to help Fermata Energy expand its system and help combat climate change, increase energy resilience and reduce energy costs, said David Slutzky, president and CEO of Fermata Energy. Positive drivers were volume and mix improvements driven by reliable operations and the Beaumont refinery expansion start-up and the absence of unfavorable prior-quarter unsettled derivatives. These charts show the average base salary (core compensation), as well as the average total cash compensation for CMO in companies like EXXON MOBIL CORP in the United States. ExxonMobil picks successor to general counsel - Corporate Secretary References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. regulatory updates, governance trends and best practices, careers and much more. Statements related to outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions in this release, are forward-looking statements. References to resources or resource base may include quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves, but that are expected to be ultimately recoverable. Darren Woods serves as the CEO / President of ExxonMobil. Executive Bio. Company Info Exxon Mobil Corp. 5959 Las Colinas Boulevard. Fermata Energy brings Brian Zelis in as its national sales director and will lead its efforts to integrate V2X technology and software to utilities, universities, municipalities, and fleet owners throughout North America. In addition, earnings were impacted by the absence of favorable year-end inventory impacts. Sector Major Oil & Gas. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices and differentials for our products; government policies supporting lower carbon investment opportunities such as the U.S. Inflation Reduction Act or policies limiting the attractiveness of future investment such as the additional European taxes on the energy sector; variable impacts of trading activities on our margins and results each quarter; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of COVID-19 or other public health crises, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources; the level and outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; government policies and support and market demand for low carbon technologies; war, civil unrest, attacks against the company or industry and other political or security disturbances; expropriations, seizure, or capacity, insurance or shipping limitations by foreign governments or laws; opportunities for potential investments or divestments and satisfaction of applicable conditions to closing, including regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Earnings/(loss) excluding identified items does include non-operational earnings events or impacts that are generally below the $250 million threshold utilized for identified items. Results also benefited from the absence of year-end inventory effects and lower corporate and financing costs. Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. NJ. Corporate and Financing reported net charges of $355 million. The high quality of the directors, officers and employees of Exxon Mobil Corporation is the corporation's greatest strength. (Copyright 2023 Salary.com). The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. Vice President Global LNG Marketing. ExxonMobil picks successor to general counsel Oct 05, 2020 Randall Ebner retiring after more than 40 years at the company ExxonMobil Corporation's board has picked Craig Morford as the company's next vice president and general counsel. CONDENSED CONSOLIDATED STATEMENT OF INCOME, Net income/(loss) attributable to noncontrolling interests, Net income/(loss) attributable to ExxonMobil, Earnings per common share - assuming dilution (U.S. dollars), ExxonMobil share of income taxes of equity companies, Investments, advances and long-term receivables, Other assets, including intangibles net, Long-term obligations to equity companies, (9,000 million shares authorized, 8,019 million shares issued), (3,976 million shares at March 31, 2023, and 3,937 million shares at December 31, 2022), CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS, Net cash provided by operating activities, Additions/(Reductions) in debt with three months or less maturity, Cash dividends to ExxonMobil shareholders, Cash dividends to noncontrolling interests, Net cash provided by (used in) financing activities, Increase/(Decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Earnings/(Loss) Per Common Share (U.S. GAAP), Total Identified Items Per Common Share , Earnings/(Loss) Excl. Before joining Fermata Energy, Zelis served as Electric Vehicle Business Development Manager for Nissan North America, who worked closely with Fermata Energy. Mr. Andrew P. Swiger is a Chief Financial Officer & Senior VP at Exxon Mobil Corp. and a Member at Boy Scouts of America. Simmons has also spent nearly 20 years as director of operations, policy and recording manager, escrow officer, and asset manager and gaining experience in the lending industry. Crenshaw received a bachelors degree in communications from Southern Methodist University and continued his education at the University of North Texas. No spam, ever. Exxon Mobil Company Profile: Stock Performance & Earnings | PitchBook Copyright IR Media Group Ltd. 1995 - 2023 All rights reserved. Sales or Revenue 400.44 B. Partners with line of business leaders to ensure marketing programs and advertising expenditures support company revenue and growth objectives. Similarly, discussion of future carbon capture, transportation and storage, as well as biofuel, hydrogen and other plans to reduce emissions are dependent on future market factors, such as continued technological progress, policy support and timely rule-making and permitting, and represent forward-looking statements. Excluding identified items, earnings declined $1.1 billion year over year, driven by a 23% decrease in crude realizations, partly offset by higher production volumes. Copyright 2003-2023 Exxon Mobil Corporation. James Moretti and the ExxonMobil executive team are rated a C by 126 employees. Chemical Products earnings were $371 million, up from $250 million in the fourth quarter, mainly on improved margins from strengthening of the North American ethane feed advantage partly offset by higher scheduled maintenance. Witts has previously served as CFO of Compass Group and Kingfisher Group, and held a number of senior roles at Vodafone and BT. How much does a CMO make at companies like EXXON MOBIL CORP in the United States? The average salary for CMO at companies like EXXON MOBIL CORP in the United States is $461,400 as of March 28, 2023, but the range typically falls between $399,100 and $561,800. Andrew Barry Vice President Global LNG Marketing Based in Singapore, Andrew is responsible for the ExxonMobil LNG sales and purchases portfolio and oversees the marketing of LNG for ExxonMobil's equity projects and joint ventures. This is a broader indicator of the total tax burden on the Corporations products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (sales-based taxes).
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