ExxonMobil elects Dina Powell McCormick to Board of Directors

Rhea-AI Summary

Exxon Mobil Corporation announced the appointment of Dina Powell McCormick to its board of directors, effective January 1. Ms. Powell McCormick, a distinguished executive with extensive experience in international diplomacy, national security, and global financial markets, is expected to bring valuable insight and leadership to the company.

SPRING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation announced today that Dina Powell McCormick will join its board of directors, effective January 1. Ms. Powell McCormick is currently vice chairman, president and global head of Client Services at BDT & MSD Partners, an investment and advisory firm, and previously spent 16 years at The Goldman Sachs Group Inc., most recently as a member of its Management Committee.

Dina Powell McCormick (Photo: Business Wire)

“Dina is a distinguished executive with a rare level of geopolitical, national security and economic experience,” said ExxonMobil Chairman and CEO Darren Woods. “She has served two U.S presidents in diplomatic and national security roles and, more recently, led Goldman Sachs’ sustainability efforts, a useful combination of experiences for the ExxonMobil boardroom. She represents the best of what this company stands for: principled leadership and the proven ability to navigate cultural and societal challenges and opportunities in ways that advantage all stakeholders over the long term.”

“We welcome Dina to the ExxonMobil Board as the company executes its strategy to grow shareholder value by playing a critical role in a lower-emissions future, even as we continue to provide the reliable energy and products the world needs,” said Joseph Hooley, lead independent director for Exxon Mobil Corporation. “ExxonMobil will greatly benefit from her global leadership and distinguished reputation as a leader who understands a challenging and changing global marketplace.”

Prior to the private sector, Ms. Powell McCormick served for over a dozen years in senior roles in the United States Government, including as Assistant to the President for Presidential Personnel, Assistant Secretary of State and Undersecretary for Public Affairs and Public Diplomacy, and Deputy National Security Advisor.

At Goldman Sachs, Ms. Powell McCormick led the firm’s global sovereign business driving the firm’s efforts with large global institutional investors. She also led the firms impact investing businesses including a $750 billion investment fund focused on new sources of sustainable energy and inclusive growth economic development programs in underserved communities. She also was a member of the firm’s Management Committee and the Firmwide Client and Business Standards Committee.

Ms. Powell McCormick currently serves as chairman of the Robin Hood Foundation Board, Trustee of the National Geographic Society Board, Trustee of the Lincoln Center for the Performing Arts, Trustee of Mt. Sinai Health System and member of the Board of the Atlantic Council.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.

With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com and ExxonMobil’s Advancing Climate Solutions.

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Cautionary Statement

Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; reservoir performance; the outcome of future exploration efforts; timely completion of development and construction projects; technical or operating factors; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K. References to “recoverable resources,” “oil-equivalent barrels,” and other quantifies of oil and gas include estimated quantities that are not yet classified as proved reserves under SEC definitions but are expected to be ultimately recoverable. The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.

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Source: Exxon Mobil Corporation

FAQ

Who is joining Exxon Mobil Corporation's board of directors?

Dina Powell McCormick, currently vice chairman, president, and global head of Client Services at BDT & MSD Partners, will join Exxon Mobil Corporation's board of directors.

When will Dina Powell McCormick join the board of directors?

Dina Powell McCormick will join the board of directors of Exxon Mobil Corporation effective January 1.

What is Dina Powell McCormick's background?

Dina Powell McCormick has extensive experience in international diplomacy, national security, and global financial markets. She previously served in senior roles in the United States Government and spent 16 years at The Goldman Sachs Group Inc.

What is the significance of Dina Powell McCormick's appointment?

Dina Powell McCormick's appointment is significant as it brings a leader with a rare level of geopolitical, national security, and economic experience to the Exxon Mobil Corporation's board of directors.