Exxon names GM's former president to lead oil and gas business

Exxon Mobil announced on Tuesday that Dan Ammann - the former president of General Motors will be taking over its most profitable and largest business in early 2013.

Ammann, who joined Exxon in 2012 to lead its Clean Energy Unit, Low Carbon Solutions (Low Carbon Solutions), will replace Liam Mallon, a 34-year veteran of Exxon, as president and CEO of Exxon’s Oil and Gas Pumping Business, starting on February 1, 2025.

Ammann's appointment and that of Barry Engle, a former GM executive as president of Low Carbon Solutions reflects the continued reshaping by outsiders of top management at this U.S. oil company.

Energy analyst Paul Sankey, of Sankey Research said, "It's certainly a new management style for Exxon Mobil. It really started the post-activist Engine 1 board shakeup." He was referring to a 2021 proxy battle won by an activist investor that gained three Exxon Board seats.

Ammann, who will be the head of Exxon’s Upstream Business Unit, will supervise a unit that contributed to more than two thirds of Exxon’s operating profit in this year.

Engle is a veteran auto executive, having worked for General Motors from 2000 to 2020. The Low Carbon Unit was created to help Exxon, industrial customers and other companies reduce their carbon emissions.

Exxon CEO Darren Woods said in a press release that "these appointments continue our company's strategy of leveraging diverse skills and experience of a very accomplished Executive Team to bring fresh perspectives to each of the exceptionally talented organizations."

Kathryn Mikells, former Diageo drinks finance director, will be Exxon's CFO in 2021. (Reporting and writing by Gary McWilliams in Bengaluru; editing by Shreya biswas and Bill Berkrot. Additional reporting by Seher Dareen, Bengaluru.

(source: Reuters)