Darren Woods will be the new head of Exxon Mobil effective Jan. 1, the oil company announced Wednesday, responding to President-elect Trump’s Tuesday decision to nominate current CEO Rex Tillerson to serve as the nation’s top diplomat.
The company’s board of directors praised Tillerson’s environmental protection record in congratulating him on being nominated as the country’s next secretary of state.
“He led the company with integrity and honor, ensuring that safety and environmental protection were at the forefront of everything we do, generating value for shareholders and highlighting the impressive accomplishments of the company’s diverse workforce throughout the world,” the board said.
“We know that his service to the nation as secretary of state will be equally successful and distinguished,” the statement added.
Tillerson will stay on as CEO until Dec. 31, when he officially steps down after 41 years with the company. Tillerson started at Exxon as an engineer in 1975.
He was scheduled to retire in March at the age of 65. The board agreed to make an exception and push up his retirement date to December.
“After consideration, Tillerson concluded, and the board agreed, that given the significant requirements associated with the confirmation process, it was appropriate to move the retirement date,” Exxon said.
Woods, 51, has been with the company since 1992 and has served in various senior roles both domestically and internationally. He has served on the board of directors since January 2016.
