Manchester Area, United Kingdom. Join over 300,000 Finance professionals who already subscribe to the FT. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Can you just take us through that interview quickly, Sam? www.industryweek.com is using a security service for protection against online attacks. Get the latest ExxonMobil stock price here. Exxon CEO accused of lying about climate science to congressional panel We can't forget that with unprecedented times comes unprecedented opportunity. He can even go a step further and say, this is how we can work with government and have a meaningful impact on the transition. He says that by remaining a party to the accords the U.S. will have a seat at the table to "ensure a level playing field" and support "the most cost-effective greenhouse gas reduction options". endstream endobj 535 0 obj <>/Metadata 29 0 R/Pages 532 0 R/StructTreeRoot 57 0 R/Type/Catalog/ViewerPreferences 555 0 R>> endobj 536 0 obj <>/MediaBox[0 0 612 792]/Parent 532 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 537 0 obj <>stream Some extend a family legacy while others cement their own place in history. Of course, Woods is no stranger to the duties and responsibilities of being an Exxon Mobil executive. So they're refreshingly honest about this, and all these gas legacy companies have a lot of catching up work to do, and they're all building this transition to renewable energy as a core part of their messaging and their positioning. We will leverage our large, contiguous acreage position, our improved understanding of the resource, and the full range of ExxonMobils capabilities in executing major projects. I was shocked!. risks and opportunities. See Photos. It is based on a noble, worthy contribution which we are uniquely suited for, and that is helping advance growth in global prosperity through innovative solutions that meet societys greatest needs. Darren W. Woods (born 1964/65) is an American businessman who is the chief executive officer (CEO) and chairman of ExxonMobil since January 1, 2017. HOUSTON The executive wing of Exxon Mobil's headquarters outside Dallas is nicknamed the God Pod because orders given by executives there can sometimes be as sharp as thunderbolts. So you better listen to us, otherwise we're gonna create a lot of havoc for you, in the media and investment circles. I remember, I said to her, youre talking like we just got married, as far as Im concerned, were just dating. He joined Experian plc as Chief Financial Officer in April 2012, a post he held until his appointment as Chief Executive Officer in July 2014. Darren Woods is an exemplary leader who is transforming ExxonMobil into one of the most successful energy companies in the world today. When Donald Trump took the United States out of the Paris Agreement, Woods was one of the people who spoke out against the decision. Our businesses continue to lead the way in supplying the world with the products essential for modern living. They can also motivate others to perform, create, and innovate. I think they're gonna be investing in new tech, like carbon capture, that's actually gonna try to reverse some of the negative impact that they've had on the world over the last 10, 20 years. These include ExxonMobil, GE Energy, Qatar Petroleum, Apple, Microsoft, Cisco Systems, Oracle Corporation, Amazon.com and Johnson & Johnson. Based on 37 ratings, Darren Woods . Chairman and CEO Darren Woods discussed the current state of the industry, how the company managed through a difficult period, the leadership role the company intends to play in the energy transition, and his optimism for the future. Its a partnership between the highest-paid golfer ever and the signer of the richest contract in MLB history. Soon after I joined Exxon, I was talking to the HR people and they were telling me about this philosophy behind a successful career pension plans, all that kind of stuff, he recounts. Some of his fondest childhood memories took place on the Korean peninsula, although, those experiences were eventually followed by several formative years in the Philippines. Said rock unit has been producing oil since the 1950s, but it still contains untapped sources that can offer profit for those who can extract them in an economical fashion. I think the real question is whether it's rhetoric or whether it's actually meaningful, and whether he can back up a sentiment with doing their part of the deal. This initiative includes investing $100 million over 10 years into research related to reducing methane emissions from natural gas operations worldwide. In order to form well-rounded executives, the oil giant stressed the importance of understanding the business from the ground up before trying to manage it. ExxonMobil is one of the worlds largest integrated energy companies, offering oil and gas products and services to customers around the globe. Darren Woods ExxonMobil CEO Rating | Comparably So, he has got a very established public profile, he's been with the company for a long time. To me, that was a moment when the general public really started to take climate change and fossil fuels really seriously. Sam Patchett: The interview is part of a new documentary: ExxonMobil at the Crossroads, and it explores the company today and their plans for the future. Simply log into Settings & Account and select "Cancel" on the right-hand side. Photograph: Callaghan O'Hare/Reuters ExxonMobil Exxon CEO's pay rose 52% to nearly 30m amid. Theyve made significant progress in reducing their greenhouse gas emissions thanks toa robust development portfolio of technologies and products aimed at capturing carbon output. There is a tiny English-speaking country named Guyana situated along the coast of South America, lodged between Brazil and Venezuela, whose shores are about to experience an oil boom. Darren W. Woods is on the board of Center for Strategic & International Studies, Inc. and US-China Business Council and Chairman & Chief Executive Officer for Exxon Mobil Corp., Member of The National Petroleum Council, Member of The Business Roundtable and Member of The Business Council. Our past efforts to increase efficiency are now helping improve our margins as the industry rebounds. It's a new year, but many of 2020's challenges linger: The layoffs sunk morale, oil markets are still stunted, and some investors are pressuring the company to address the risks associated with climate change, as many of its peers have done. Expert insights, analysis and smart data help you cut through the noise to spot trends, He joined the refining side of the business, he was there for 24 years, and he became the CEO in January, 2017. Darren Woods Mobil CEO Rating | Comparably Under Woods leadership, ExxonMobil has seen major successes including increasing production capacity by 40% from 2017-2019; doubling its dividend; reducing greenhouse gas emissions intensity by 15%; and becoming one of the worlds top 10 ranked oil & gas companies based on return on capital employed (ROCE). To be honest, it's astounding that it's taken the industry this long to really catch up and really ramp up their commitment to addressing the problem. I'm proud of the work that all of you have done to overcome the challenges of the past few years. There were a lot of people who spoke out in one way or another, but Woods is interesting in that he wrote a personal letter to Donald Trump to state his opinion on the matter. Darren Woods is CEO of ExxonMobil, one of the world's largest oil and gas companies. His commitment to safety and environmental sustainability is commendable and sets an example for other corporations. This is because the commands of Exxon Mobil executives are sometimes compared to hurled thunderbolts, which is a comparison that interested individuals can interpret in a remarkable number of ways. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. As a result, prices and margins are rising, improving revenue that we're using to strengthen our balance sheet, fund our capital program and pay the dividend. hb``` eah 8&& 2faPQPm@U3@79jf[39O;3\2YP.+fm\7- FkGGC(`v`` (!R70 AAAh6LE M58M=HItZW%8,40w@#h ~` ?K CV Darren Woods Born Wichita, Kansas Education Bachelor of Science in electrical engineering from Texas A&M MBA from the Kellogg School of Management at Northwestern Career 1992 Joins Exxon as. Woods long-term vision for ExxonMobil has allowed it to stay ahead of the curve, providing customers with innovative products and services that meet their needs. analyse how our Sites are used. He earned a bachelor's degree in electrical engineering from Texas A&M University, followed by an MBA from Northwestern University's Kellogg School of Management. He also fosters a culture of innovation by implementing new technologies and processes to improve efficiency within the company. He is Jeffrey Ubben, the co-founder of Inclusive Capital Partners, a firm that specialized in funding environmentally friendly businesses. We will be connecting homes and businesses in the cities and in the . There, he worked as a technical consultant to the U.S. Air Force on missile navigation systems. And in some ways they're refreshingly upfront about this if you go onto the Exxon website, their main image is an oil rig. After all, before he was promoted to the position of CEO, he was running a division of Exxon Mobil. 64% of the management team is White. ExxonMobil Names Darren Woods as CEO; Tillerson Resigns Darren Woods - Biography - MarketScreener.com I worked with people from different backgrounds, and it was hard, hot, and very dirty work, he remembers. People have lost trust in that relationship, and now is a good time for someone like Woods to step in and own the conversation. Exxon Mobil looked to Canadas oil sands, natural gas fracking, and even Russias Arctic, all of which required higher prices to be profitable. Additionally, Woods negotiated key deals with Qatar Petroleum that that enabled two new projects at Jury Island in in Singapore that that will provide up to 9 million tons per year of liquefied natural gas. Additionally, Woods negotiated key deals with Qatar Petroleum that enabled two new projects at Jaron Island in Singapore that will provide up to 9 million tons per year of liquefied natural gas (LNG). He promotes an open-door policy that allows employees to come to him with any issues or concerns they may have. Actually this message is the important part of all components of the business, whether it's finance, marketing, HR that's the positive read. Furthermore, Woods invests in traditional asset classes such as stocks, bonds and commodities but also makes use of alternative investments including private equity funds and venture capital firms. These times have been truly unprecedented for the world, for our industry, and for our company. It is curious to note that Woods believes that Peak Oil has been debunked. He played in 11 games last season and started in 9 games. When I was given the job, Rex didnt offer it, he just told me, this is your new job,' Woods remembers. And I also wanted to touch on the common perception throughout all tracks of society that these energy companies aren't doing enough. Were increasingly confident about our Permian growth strategy due to our unique development plans, said Neil Chapman, ExxonMobil senior vice president. The bottom line, Woods absolutely loved engineering, so much so, he initially planned on pursuing a Ph.D. in the subject and eventually hoped to become a university professor. By 2014, he was elected senior vice president of Exxon Mobil Corporation. Conclusion Darren Woods has proven himself to be an effective leader of ExxonMobil since he took on the role of CEO. Darren Woods - Wikipedia Yes, there are going to be things you dont have control over, but its your response that matters and you have complete control of that.. Let's get started. This added up to 355 yards on 24 reception and 5 touchdowns for him. While we prefer policymakers adopt a transparent, economy-wide price on carbon in the form of a carbon tax, we recognize it is politically challenged. as well as other partner offers and accept our. We'll report our third-quarter results next week, and, as indicated in our Sept. 30 8-K filing, we expect the market improvement to impact those results. If we ever needed proof that policy makers are struggling to tackle the problem I mean, that was it. }lAlIXL)1ZWh\5{dLT&xL&^v^]]z^w~~j} F)td]x69Hf 2a2=T0[#ekp{mdsfT5x-8W|Q5#gT%,#+}S`L3/H5?Q {zp"%.)FuBgX)dX-d"rtFZj#0A\h}w1V`9/N Qpq6sV*zFg62ip2V$\v=jqC\5, ju||P_e> hXmo6+bDo@ ml h luhdIL99r+IFVFF)o!eVSt2 _e|RF`McVDS$o.xED8#Xk$ED[Uu-n''}L7:m/}e2bE`qN{O7mwi:n=IsPd?tLnp6*ZWg=&/86_L78Pwl^1Z ckk=AJ*- C ]zaOagGbNNy'sOA+2Z a,1p$hhAgGPB|p` (Rf>^W`V|}jKt;f1Vp8.^]*_cb77b6ffOa-2-jWd~g>dHSzY"MV%Cx?w3qwn.p?;`Zr7fG1N['{d0@%,;8N-oL|hE2-CG6P },@ A ROXd_f(i[! We know that the oil and gas sector has an enormous reputation problem. Today, I hope to convey to you why I'm so excited about the future. Groundbreaking reporting from InsideClimate News, the Los Angeles Times, and other outlets has shown that #ExxonKnew about the dangers posed by its fossil fuel products for decades, but engaged in a widespread campaign of deception to protect its profits. Darren Woods: CEO of ExxonMobil with Best Leadership Style For a full comparison of Standard and Premium Digital, click here. For example, he spoke about Exxon Mobils plan to drill for oil in the Permian Basin. So Woods originally joined Exxon in 1992. Great leaders can inspire political movements and social change. You have entered an incorrect email address! I went on to manage the retail business in Scotland and northern England before becoming Supply and Trading Manager for the UK and Ireland, he recollects. See the key employees who run Exxon Mobil in our exclusive org chart To learn more about the companys response, check out this March 4th, 2021 interview below, featuring Exxon Mobil CEO Darren Woods and Squawk Box of CNBC: On the heels of achieving Exxon Mobils 2020 emission reduction goals, Darren Woods announced plans for even more reduction than originally conceived by 2025 at the companys most recent Investor Day. Before I go on to the kind of more sceptical read, I think it's also important to point out that we're in a global fight for talent, we're in a global fight for capital, and if you want money, and if you want the next generation of top employees joining your companies, then you can't get them in the boardroom at the interview and say: oh, this is all for show. We're making solid progress with our European CCS projects, and we're seeing real opportunities for new CCS projects in Asia, which we expect to announce in the near future. This time, the Bakken Formation refers to a rock unit that can be found beneath the states of Montana and North Dakota as well as the Canadian provinces of Manitoba and Saskatchewan. It supplied retail services on U.S. military bases. v>rf+lN8jM[(2)gP&axrX>x[/|\`YAL1g\[#7. As a result, Darren Woods has been successful in transforming ExxonMobil into one of the worlds leading energy companies. He currently serves as the Chairman and Chief Executive Officer of ExxonMobil, one of the worlds largest oil companies. Prior to this, he spent his career in . Woods is known as a collaborative leader who encourages creativity throughout the organization. In the last two days, I've heard two Shell ads, one on the tube, one on a podcast I was listening to. offers FT membership to read for free. We support credit card, debit card and PayPal payments. ', The astute young mans first day on the job was August 31st, 1992, and because his wife was tired of living in student-like apartments, he managed to get them moved into their first house on December 2nd of that same year. In general, his goal is to create a diverse portfolio consisting of high-quality assets across multiple sectors. Richard Carson/REUTERS; Richard Carson/REUTERS; Mark Schiefelbeinl/Getty; Fazry Ismail/Getty; Skye Gould/Insider, NOW WATCH: What it's like inside Hollywoods exclusive Magic Castle, Visit Business Insider's homepage for more stories. You can still enjoy your subscription until the end of your current billing period. Exxon has struggled to increase output and profits in recent. $20.7 billion Amount by which exxon mobil's debt load increased in 2020, to a total of $67.6 billion Our Downstream business is steadily improving with a slow return to pre-Covid markets. Darren Woods 87, CEO, ExxonMobil. Were working on that evolution. Exxon Mobil has set aside $3 billion through 2025 for capturing carbon from industrial plants and recently added an environmental activist with no previous ties to fossil fuels to its board of directors. I was vying for the same, Read More Harnessing Your Passion: How I Navigated Success in LawContinue, What do you know about Khaled Hassounah, the CEO of electronic vehicle battery specialist Ample? Doing business in Russia did not fare well either, as in 2014, the United States along with many European nations hand-cuffed Moscow with crippling economic sanctions that impacted the profitability of their deal. Darren Woods leadership style. One interesting observation to point out is, a couple of self-made billionaires also found themselves working amongst TRWs west coast offices at a particularly early stage in life, their names are, . Although there were many questions surrounding the man headed to Pennsylvania Avenue, professionals in the business world had little doubt about the gentle, soft-spoken, and effective executive who would take his place. Woods said he reaggravated his plantar fasciitis, a condition that causes pain near the heel of the foot. The entire room was subsequently filled with concerned students as they attempted to grasp how this guy could fail his entire class. It is named thus because it has significant deposits of rocks from the Permian period, which are a rich source of a number of useful resources. I think most Western countries think it's pretty clear-cut. Given that ExxonMobil is the world's largest publicly traded oil company, the strategic decisions have . Transcript The company has faced issues with perception among shareholders and the public in recent years, and Woods is very much leading the way to show the world that they have an eye on the future and they're ready for the energy transition. Behind those decisions is what some employees have referred to as the"God Pod" Exxon's executive wing at the company's headquarters. The moves were tiresome, never enabling him to develop a true hometown, and with that being said, the international businessman before us today holds nothing against his parents, he actually credits them for teaching him to respect others, believe in himself, work hard, never quit, and ultimately, adhere to a set of lifes more invaluable, globally transcendent principles. Together, they have an average tenure of nearly 35 years. Exxon CEO's pay rose 52% to nearly 30m amid Ukraine war, figures show Herman has filed two civil suits one against Woods, and another against a trust of which the golfer and his two children are beneficiaries. Beyond CCS, we've been a leader in advocating for comprehensive federal methane regulations, and we are pleased that policymakers are increasingly making this a key part of their emission-reduction plans. The board will be meeting shortly regarding transition.. Join the Brooksy Society by subscribing to our Monthly Newsletter! You need to show them your vision and mission. As of 2020, Darren has a net worth of USD 30.3 million. What companies does Darren Woods invest in? All four members of the management committee are white men. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. HOUSTON (Reuters) - Exxon Mobil Corp's XOM.N $200 million write-down last month on abandoned ventures in Russia - once its next big frontier - points to challenges facing Chief Executive Darren. Additionally, he pays close attention to management teams, making sure they are experience and capable of executing their strategies effectively. [9], On October 5, 2020, Bloomberg News reported that Exxon was set to increase its annual carbon emissions by about 17%, or about as much as the annual output of Greece. The oil titan saw profit evaporate as oil prices crashed, and it was forced to slash spending and cut jobs. Our strategy to focus on performance products and lead in each product category continues to pay off. Mr. Woods' comments to ExxonMobil's employees are summarized as follows: Unprecedented times %%EOF I think in the last few years, they've really relied on the fact that as long as there's demand for oil and gas, which they're very much still is, then they'll stay in business. He has achieved success on, Read More 10 Things You Didnt Know About Meero CEO Thomas RebaudContinue. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. 534 0 obj <> endobj He received his promotion when his predecessor Rex Tillerson was nominated to become the U.S. Secretary of State, which resulted in Tillersons firing in March of 2018. Woods leadership style helps promote collaboration within the company, allowing employees to work together to come up with innovative solutions. Personal Relationships and Net Worth: Darren Woods is married to Kathryn Woods and the pair have been together for quite a while. Darren Woods is CEO of ExxonMobil, one of the worlds largest oil and gas companies. Likewise, Woods spoke about the plan to drill for oil in the Bakken Formation. Following his undergraduate graduation, Woods spent his hiatus from the ivory towers of higher education at an aerospace company named TRW. The Papa Johns brand has received some negative publicity recently, but over the years it has proven to be a marketable brand. On December 5th, he came home and asked her, how much do you like this house? She looked at him rather puzzled, wondering why hed ask such a thing, thats when he broke the news, I think Im going to get fired., Having been added to an exclusive, but cut-throat, program intended to groom international executives from within the company, he sensed something going awry. The board of directors of Exxon Mobil Corporation congratulates Rex W. Tillerson, chairman and chief executive officer, on his nomination for the position of U.S. secretary of state, Suzanne McCarron, Exxons vice president of public and government affairs, said. Each episode we discuss a news story that is making headlines for the right reasons, whether it's a CEO leading the way, an investor rethinking how to make an impact, or a brand that is bucking the trends. "The executive wing of Exxon Mobil's headquarters outside Dallas is nicknamed the God Pod because orders given by executives there can sometimes be as sharp as thunderbolts," longtime New York Times energy reporter Clifford Krausswrote in 2017. You may be wondering who this person is, but if youre interested in learning more about operating electric vehicles as, Read More 10 Things You Didnt Know about Khaled HassounahContinue, If youre like most people, you cant live without your phone. Participative leadership leads to higher quality contributions. He also owns stakes in several private equity funds and venture capital firms such as KKR Global Infrastructure Fund and Crescendo Ventures. The city started up because of its convenient location on a cattle trail, but in more modern times, it has become famous for being a center of the aircraft industry. And people too often look to policy makers for climate action, when in fact it's largely industry that really hold the power in reducing emissions. Our management - Sainsbury's What can natural networks teach businesses to help them adapt more quickly, become more efficient and improve success? We're also better positioned to apply our corporate competitive advantages and the outstanding talents of our people. If you are a CEO and you're sitting down and you're thinking, God, I've gotta say something about my industry, I've gotta say something about the big trends that are taking place, but I don't know what it is, I don't even know where to start on what I should say. Jordan Greenaway: Thanks Sam, and before we go onto the next section you know in these podcasts, we discuss a lot around what these CEOs are doing, but I also think there's practical advice here. What society demands, and appropriately so, is affordable, reliable energy that doesnt have the emissions associated with todays energy systems, he says. In 2008, he was named ExxonMobil Refining and Supply Company's director of refining for Europe, Africa, and the Middle East, and was based in Brussels. BBC weatherman Darren Bett pays subtle tribute to Len Goodman But I think the clamour for more action is not going to stop, and being part of the solution to that energy transition is not the same as actually trying to stop the bad stuff that you've been doing for the last 10, 20 years. To accomplish this mission, we've set three high-level objectives: To meet these objectives, we focused on three key priorities: A first step was better organizing our businesses to improve visibility and accountability across value chains in order to improve decision making, speed, and end-to-end ownership of results. Darren Woods is the current CEO and Chairman of Exxon Mobil. Under Woods leadership,, Exxon Mobil has seen major successes including increasing production capacity by 40 40%% from 20172019; doubling its dividend;; reducing greenhouse gas emissions intensity by 15%; and becoming one of the world top 10 ranked oil & gas companies based on return on capital employed ( (RROCEOCE).). Ark expects Teslas market cap to surge from roughly $500 billion to $6 trillion over the next four years. Sign Up. Last year alone, reports The New York Times, Exxon took credit for five of the six biggest oil finds, all in Guyanese waters. Bloomberg documents how Exxon debooked 3.8 billion barrels of Canadian oil in 2016 when the Canadian benchmark price averaged just under $30 a barrel; rebooked 3.3 billion in 2018 when it averaged $38; and took them down 3.9 billion again when it fell back below $28. With this being said, Darren Woods graduated from Texas A&M University with a bachelors degree in electrical engineering in 1987. Tiger Woods has been in the news - for his golf course design business. See Photos. Those efforts largely failed, explains The Wall Street Journal. His salary as chairman and CEO of ExxonMobil is report to be around $26 million per year. 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