Kathy Mikells, the primary outsider to affix Exxon Mobil Corp.’s internal circle of high executives, will retire subsequent yr as she battles a critical however non-life threatening well being situation.
Mikells, 60, joined Exxon in 2021 when the Texas oil large was underneath stress from shareholders to enhance monetary efficiency, diversify its management and construct a low-carbon enterprise. She’s going to retire on Feb. 1 to give attention to her well being, Chief Government Officer Darren Woods stated in a presentation to buyers Tuesday. She will likely be changed by Neil Hansen, a 25-year Exxon veteran who leads the corporate’s international enterprise options division.
“In current months Kathy has undergone a sequence of procedures and surgical procedures to deal with a debilitating however fortunately non-life threatening well being problem,” Woods stated. “Whereas her situation has improved, it has develop into clear to her, and I believe the remainder of us, that she must focus totally on her restoration.”
Mikells got here to Exxon from beverage titan Diageo Plc and have become the primary feminine senior vp on the corporate’s administration committee, which oversees day-to-day operations and units technique. She was additionally the primary government to carry such a excessive place at Exxon with out a background in oil, pure fuel or chemical substances.
“Issues are completely getting higher, nevertheless it has been gradual going, and I nonetheless have plenty of work to do with my docs to at some point get again to my ordinary self,” Mikells stated. “I do know my colleagues on the decision at the moment will acknowledge the sincerity of my disappointment in needing to depart this nice firm.”
Mikells modernized Exxon’s finance operate and was the primary supervisor to carry the formal title of chief monetary officer. She overhauled investor communications and offered extra granular, forward-looking info to analysts and the market typically.
Hansen has been ready for the CFO function “for a few years,” Mikells stated. “It grew to become clear to me in current weeks that my love for this firm meant I needed to step apart and let somebody who might focus full time on the CFO function take over.”
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