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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Exxon Mobil, Tillerson agree to cut all ties

    Lobo
    Lobo
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    Join date : 2013-01-12

    Exxon Mobil, Tillerson agree to cut all ties Empty Exxon Mobil, Tillerson agree to cut all ties

    Post by Lobo Wed 04 Jan 2017, 2:40 pm

    Exxon Mobil, Tillerson agree to cut all ties



    Exxon Mobil Corp and Rex Tillerson agreed to sever all ties to comply with conflict-of-interest requirements as the company's former chairman and chief executive awaits confirmation as U.S. secretary of state.

    If his appointment is confirmed, the value of more than 2 million deferred Exxon Mobil shares (worth about $182 million at Tuesday's closing price) that Tillerson would have received over the next 10 years will be transferred to an independently managed trust, the company said in a statement.

    The share awards will be canceled and Tillerson will also surrender entitlement to more than $4.1 million in cash bonuses, scheduled to pay out over the next three years, and other benefits, Exxon Mobil said.

    Separately, Tillerson also committed to the State Department that, if confirmed, he would sell the more than 600,000 Exxon shares he currently owns, the company said.

    Exxon said last month its president, Darren Woods, will become chief executive and chairman in January following the retirement of Tillerson.

    Tillerson could face a rocky confirmation process, given concerns among both Democrats and Republicans about his ties to Russia.

    Exxon stock has gained 6.5 percent since election results of Nov. 8 up to Tuesday's close of $90.89.

    http://www.reuters.com/article/us-exxon-mobil-tillerson-idUSKBN14O08N

      Current date/time is Tue 05 Nov 2024, 8:22 pm