ExxonMobil Lead Director Ken Frazier to Retire; Jay Hooley to Become Lead Director
March 22 2022 - 4:15PM
Business Wire
The board of directors of Exxon Mobil Corporation said today
that lead independent director Kenneth C. Frazier has announced his
intention not to stand for re-election to the board at the annual
meeting of shareholders on May 25.
Joseph (Jay) L. Hooley, former chairman and CEO of State Street
Corp. and ExxonMobil director since 2020, has been selected by the
independent directors to serve as lead director, effective after
the annual meeting.
“The board of directors thanks Ken for his tireless work on
behalf of the corporation and owes him a deep debt of gratitude,”
said Darren Woods, chairman and chief executive officer. “I look
forward to working closely with Jay as we continue to strengthen
ExxonMobil’s industry leadership position, responsibly meeting
global needs while leading in the energy transition.”
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.”
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy companies, uses technology and innovation to help meet the
world’s growing energy needs. 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. To learn more, visit exxonmobil.com and
the Energy Factor.
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