ExxonMobil Lead Director Ken Frazier to Retire; Jay Hooley to Become Lead Director
Exxon Mobil Corporation's board of directors announced that lead independent director Kenneth C. Frazier will not seek re-election at the shareholders' annual meeting on May 25. Joseph (Jay) L. Hooley will succeed him as lead director after the meeting. Frazier, who has served on the board since 2009, thanked the team for their work and noted that his departure is for personal reasons. He emphasized the company's progress in financial and operational performance through the energy transition. ExxonMobil remains a leading energy provider globally.
- Joseph (Jay) L. Hooley selected as lead director to enhance governance.
- ExxonMobil shows commitment to energy transition and operational performance.
- None.
“The board of directors thanks Ken for his tireless work on behalf of the corporation and owes him a deep debt of gratitude,” said
Frazier, executive chairman and former chairman and CEO at Merck & Co., Inc., will remain as independent lead director until the annual meeting. He was appointed to the role in 2020, and has been a member of the board since 2009. The role of the lead director has broad oversight responsibilities that were strengthened under Frazier’s leadership.
“ExxonMobil has made significant progress on its strategy to lead in financial and operating performance through the energy transition by leveraging its advantaged portfolio of traditional and lower-emission business opportunities,” said Frazier.
“I am grateful for the opportunity to have worked with so many talented people at the company, including Darren and the members of the board. I’m pleased with how our board has come together constructively over the past year to build on the company’s progress and momentum. After 13 years on the board, I have made the decision to move on for reasons unrelated to the company. Jay is a terrific choice as my successor, and I congratulate him on his new role.”
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