Woods re-elected to head Exxon

May 31, 2024 News

– renews mission to “grow global supplies”

Kaieteur News – ExxonMobil Chairman and Chief Executive Officer, Darren Woods was unanimously reelected to the helm of the US Oil Major, with a mandate, according to him to grow supplies of affordable energy and products and reducing greenhouse gas emissions.

ExxonMobil Chairman and Chief Executive Officer, Darren Woods

This was the message of Woods following his reelection on Wednesday, when the global conglomerate held its Annual General Meeting for 2024. Woods, subsequently said, “our investors sent a powerful message that rules and value-creation matter.”

With this in mind he posited their vote, “signals a belief that we are on the right track by overwhelmingly re-electing our directors and soundly defeating all four proposals that would have hampered our ability to create long-term value by providing the world with the energy and products it needs while investing billions to reduce carbon emissions in our own business and others.”

With this in mind, he suggested, “we expect the activist crowd will try and claim victory on today’s vote, but common sense should tell you otherwise in light of the large margin of the loss.”

Looking forward however, the Exxon boss was unwavering, “we look forward to continuing our ongoing extensive shareholder engagement as we work to solve the ‘and’ equation – growing supplies of affordable energy and products and reducing greenhouse gas emissions.”

ExxonMobil based in Houston Texas has as its subsidiary ExxonMobil Guyana Limited (EMGL). The EMGL led consortium is presently producing upwards of 645,000 barrels of oil in the Stabroek Block from three Floating Production Storage and Offloading Vessels (FPSOs), the Liza Destiny, Liza Unity, and Prosperity.

Additionally, the Uaru, Yellowtail and Whiptail Field Development plans have already been sanctions with works underway at varying stages. The company in addition to undertaking, at present, a number of appraisals since a number of significant discoveries in order to update the proven 11 billion barrels of oil equivalent, of proven resources in that Block.

Additionally, the company holds interests in the Kaieteur and Canje Oil Blocks for which there also continues to be exploration wells being spud.

Following the tabulation of votes, it was revealed that Woods and team on average secured about 95 percent of the ballots for those up for the available positions of. According to ExxonMobil, the 2024 AGM saw 3.3 billion shares represented at this meeting which equates to approximately 84 percent of outstanding shares entitled to vote. Formal documents seen by this publication outlines that “On average, 95.2 percent of the votes were cast for the 12 persons nominated by the Board to serve as directors: Michael J. Angelakis, Angela F. Braly, Gregory J. Goff, John D. Harris II, Kaisa H. Hietala, Joseph L. Hooley, Steven A. Kandarian, Alexander A. Karsner, Lawrence W. Kellner, Dina Powell McCormick, Jeffrey W. Ubben, and Darren W. Woods.”

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Chairman, Chief Executive Officer, creation, Darren Woods, ExxonMobil

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