Jack Williams was elected senior vice president of Exxon Mobil Corporation in 2014. Education Have a nice weekend, everyone. Does that change at all the way you look to manage your cash balances going forward? In 2007, he served as Vice President of Process Safety and Reliability, where his responsibilities included the creation of the overall management system for refining operations as well as the technical standards and work processes that drive operational excellence. We don't see a lot of difference between what the conclusions they're coming up with and our conclusions. She is a native of Chicago. With respect to that, we've had good progress with the government in PNG in terms of getting the agreements that we need signed and helping us move forward. Apr 24 2023 - Wilmington, MA. Paul Grewal, chief legal officer at Coinbase, sits down with CNBCs MacKenzie Sigalos at Consensus 2023 to discuss the companys response to the SECs threat of enforcement action. The Permian is doing well. Yeah. Welcome to ExxonMobil's first quarter 2023 earnings call. I think we've got clear line of sight to some additional ones. In 2005, Mr. Woods was appointed vice president of ExxonMobil Chemical Company in Houston, Texas, where he managed global specialty-chemical businesses. U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, Social Security Cuts May Be Coming. And so, it's a little bit different than the history of the company, and so would appreciate your thoughts on it. Cash flow from operations totaled $16.3 billion and our net debt-to-capital ratio declined to 4%, further increasing the strength of our balance sheet while supporting shareholder distributions of $8.1 billion in the quarter, including $3.7 billion in dividends. You're adding base capacity downstream. Gary Simmons is Executive Vice President and Chief Commercial Officer, with oversight of the company's crude supply and products trading, wholesale marketing, transportation and international commercial operations groups. Materialise NV (NASDAQ: MTLS), a leading provider of He will continue to lead the growth strategy for Accentures Industry X business, which includes digital manufacturing and intelligent products and platforms. Our expectation is that we'll continue to, I think, differentiate our production and what we're able to do versus many of the others -- many of our other competitors who started off on this best bench, high initial production rates. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. She has played a key role in restructuring Valeros Information Services Department and integrating recently acquired assets into Valeros complex systems. Apr 28, 2023, 8:00 a.m. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. We're pleased to have delivered $11.4 billion of earnings, a record first quarter following a record year. A couple of points, I think, as we're looking at the refining margin. You know, it's important for us to have a really strong balance sheet in order to ensure that, you know, we stick to our capital allocation priorities through the cycle, right? Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. WebExxonMobil's key executives include Darren W. Woods and 13 others. Hey, good morning. We've had -- we've traded for a long time. He has significant leadership experience at Valero, having served as General Counsel, as well asSenior Vice President with oversight of Valero's public policy, strategic planning, governmental affairs, investorrelations and external communications functions. Thomas earned a business administration degree in quantitative analysis from California State University-Fresno in 1983, graduating Magna Cum Laude. Mr. Chapman returned to ExxonMobil Chemical Company in 2011 as senior vice president in charge of the companys global polymers businesses. And so, that moved to a value chain construct that we had early on between refining and downstream, but now have that with our product solutions organization. We've had our own security folks out there assessing the situation. During his more than 20 years with the DoJ, Morford had assignments as US attorney in Michigan and Tennessee and as first assistant US attorney in Ohio. Yeah. Thank you, Darren. I just wanted to follow up on trading because there's been various press reports about Exxon wanting to build up its capabilities in asset optimization and trading. A significant contributing factor was structural cost savings that now total approximately $7.2 billion. He has been with the company since 1989 and has served in many leadership positions. I mean, our capital allocation approach, I think, has been very consistent and very clear. And frankly, I think it's early with China. And, you know, in recent history, it's certainly true that we ran fairly lean on cash. Mark Schmeltekopf serves as Senior Vice President and Chief Accounting Officer, with responsibility for the companys accounting, budgeting, forecasting and profit-planning procedures, as well as financial statements and reporting, and corporate tax functions. But I was wondering, Darren, if you could just address how and remind us how you're thinking about dividend growth, right, because we've got, you know, clear evidence here that you've got, you know, foundational earnings growth. He is a native of Stoke-on-Trent, England. It's only if we find a valuable opportunity to do that. Is it a Top Stock to Buy? We're making good progress there. It's strong sequential growth versus 4Q and also puts you already in line with that 10% growth target that you had laid out for 2023. Bhaskar Ghosh has been named chief strategy officer, effective immediately, with responsibility for the companys strategy and investments, including ventures and acquisitions. Shaw got two new directors installed on the 12-person board. ExxonMobil engineer Natalie Martinez discusses the companys efforts to scale up advanced recycling and her part in making it happen. So, I'd encourage you to look at that. Walsh has served in many different leadership roles within Valero's legal department. CIO. TOP TIER certified fuel* and top-tier service at our Valero branded stations. I'll start that, then, Kathy, if you got anything to add to it. Exxon Mobil's compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million this She was promoted to Vice President-Human Resources and Administration in November 2015, and to her current position in January 2019. Simmons joined Valero in 1987 and began his career as a Process Engineer at the Ardmore refinery and held many leadership positions including Executive Director-Regional Development, Vice President and General Manager of the Ardmore refinery, Vice President and General Manager of the St. Charles refinery, and Vice President-Planning and Economics, before being promoted to his current position. Mike Seavers Joins Yuga Labs as Chief Technology Officer. So, thank you, everybody, for your questions today. Yeah. WebExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy needs. The organizational changes we've already made are continuing to find things. Thanks for taking the question. Welcome to ExxonMobil's first quarter 2023 earnings call. WebSenior Vice President, Chief Safety and Security Officer and Chief Technology Officer @ ABS Education Columbia University in the City of New York Bachelor's degree (Human Resources Management and Services) Tyson David Email Address Found 2 email address listings: @fairpoint.net @exxonmobil.com Tyson David Phone Number Found 4 phone Darren Woods -- Chairman and Chief Executive Officer. This is about going out and optimizing given the asset base that we have, the value chains that we're participating in, taking the insights generated from running those businesses and the opportunities that come with those insights and transacting on them. Thanks for joining us today. That's what you've seen us do. Image source: The Motley Fool. We'll go next to John Royall with J.P. Morgan. And then when those turnarounds are finished and capacity comes back out, you get a surge of supply. Overall, I'd say the organization is doing a good job at looking to offset inflation and what's obviously been a higher inflation environment recently. I think we're seeing the results of that starting to manifest itself. Maybe a question on the chemicals business. Rich Walsh serves as Senior Vice President and General Counsel. And I'm wondering if you see that dynamic as kind of balanced where cracks in Asia are zero, but margins in the U.S. are still 20, and that's kind of representative of the market structure that we're in, or do you expect the weakness in Asia margins to kind of force U.S. refining margins lower in the near term? That's true for any of the areas of our portfolio where we've got, you know, a substantial business today and ongoing technology work to make advances. In 2010, he was appointed vice president of supply and transportation, based in Fairfax, Virginia. So, a caveat, everything I say with the recognition that given the impact that demand has on the margins, given the fairly static supply side of the equation, it's often difficult to know exactly where things are going to go. We would have seen, actually, the benefit of some of that in this recent quarter. By: Materialise via Business Wire. Schmeltekopf joined Valero in 2003 as Executive Director of External Reporting. On June 1st, we plan to launch our new enterprisewide trading organization. And the final point I'd make to build on what Kathy said is we have seen, with all these organizational changes, as our people have come together in the new organizations and focused on the objectives of those organization and what the corporation is trying to achieve, we find a lot more opportunities than we could envision even going into the changes. So, we feel really good about where we're at today on our balance sheet. Jennifer Driscoll -- Vice President, Investor Relations. Aug. 13, 2020. And that's, I think, a commitment that I feel really strongly about. If you look at the quarter, you know, we more than offset inflationary cost pressure with the structural savings that we were able to generate. So, I'd start by saying, overall, we feel really good about the progress that we've made. WebExxonMobil. And if I look at some of the numbers from some of your peers, it looks like that -- those businesses, the asset optimization could add up to 5% on ROCE in exceptional environment. So, just wondering if you could remind us, you know, sort of on a mid-cycle basis how to think about, you know, and how the board thinks about dividend growth because, certainly, you've de-risked some of those foundational earnings. Mike Seavers Joins Yuga Labs as Chief Technology Officer. We should hit the objective that we set back in 2018 probably sometime this year. And so, that's the model that I have in my mind. So, that polypropylene unit that we brought on, it really -- what is a pretty low point in the polypropylene market to make earnings -- positive earnings on a brand-new piece of kit that starts up in the lowest of the cycle is, I think, a testament to the strength of the projects that we are investing in and bringing in online. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. Combined with the strength of our balance sheet, we have the capability to win across a wide variety of market conditions and deliver strong returns while meeting the evolving needs of society, including the need to reduce emissions. In 1999, he moved to Investor Relations, and in 2004 was named Vice President of Investor Relations. Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. And do you guys still have concern on security or that you are going through the similar process to Total on the cost structure side? Prior to joining Valero, Reinhart served as a Partner in the law firm of Bracewell & Giuliani LLP, where she defended employers in all phases of employment law. And so, you've seen us in the last two years raise the dividend in the fourth quarter of the year. If we see similar levels of exports as we saw last year, my expectation was that'll put additional upward pressure on the margin. I wanted to ask a question on the downstream business and given your global reach there. Karen McKee, formerly president of ExxonMobil Chemical Company has been appointed to lead ExxonMobil Product Solutions. ExxonMobil ( XOM 1.28%) Q1 2023 Earnings Call. Like what we're doing there, I think we see some encouraging signs on the early stages of that, and we're going to keep pressing on that, maintain, you know, rigs and the capital levels that we've been talking about pretty consistently. So, you know, that's a big part of our overall strategy and mixing up in both the chemical business and across our product solutions business, and we feel very good about the results that's bringing. He then served as Vice President-Investor and Corporate Communications, President-Europe, and Vice President-Investor Relations, Market Analysis & Strategic Planning, before assuming his current position. Prior to attending the University of Texas, Fraser served in the U.S. Army in 1986-1990. The US energy firm said cost-cutting measures also contributed to its record $11.4bn (9.1bn) first-quarter profits, up from $5.5bn a year earlier. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Yeah. He joins from Strides where he served as CIO. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. Thank you. Great. I'm just wondering how vigorously are you pursuing this opportunity and how long do you expect it to take to get to where you want to be on the trading front. Find your future. So, I was wondering if you could talk a little bit about the productivity trends and the driver of the strong results that you're seeing there and then, also, how you're thinking about the evolution of production for the balance of this year? But I wonder if the direction we're going with cash, you know, even net of shareholder returns that are continuing to increase and that are well within sort of your targets, you know, if we're kind of getting beyond fortress and into something even bigger than that. We did a lot of work over the last couple of years to validate what we thought the opportunity size was there and what would be needed to get after that. But one that is very focused on significantly growing the value proposition there, really around our footprint. As you know, it's very tied to economic activity. Fisher began his career with Valero in 1997, when he joined Valeros Corporate Law Department. I think we've said in the past that as you look at production, the Permian is going to be a little bit lumpy, and so I wouldn't take any one data point, any one quarter's numbers and extrapolate from there. We've seen a lot of capacity coming on. Global business solutions will centralize a majority of our finance and procurement operations, enabling us to deliver simplified corporatewide processes. Other past positions include oversight of the companys North Slope and Cook Inlet interests in Anchorage, Alaska; deputy production manager for the companys South China Sea operations in Malaysia; two years in the U.S. upstream planning organization; operations superintendent for the company's East Texas field areas; and operations manager for the companys Gulf Coast and offshore California properties. The question is obviously when, but that will come. Cheryl Thomas serves as Senior Vice President and Chief Technology Officer, with responsibility for the companys information services network and related technology. Thank you. July 19 (Reuters) - Exxon Mobil Corp's (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major's management He previously served as Vice President and Deputy General Counsel, with responsibility for Valero's litigation, regulatory and employment law departments, as well as the company's ad valorem tax and environmental, health and safety groups. As CFO, Ms. Mikells leads the companys finance functions, including treasury, tax, and audit as well as the companys strategic planning, global services, and investor relations functions. Our diverse portfolio of advantaged businesses, improvements in mix, structural cost savings, excellence in execution are driving industry-leading earnings, cash flow, and shareholder value. Is there some sort of portfolio effect in here that we should be picking up and how does that rate through the year do you think? And we certainly saw that with the China lockdowns. And today, I feel pretty optimistic about that. But that's an important asset as you move into the bottom of the cycle, particularly when you're trying to maintain the consistent investment levels and continue to advance the projects in the portfolio. We've now integrated our upstream into those value chains. Article Tags: appointment. Fisher has served as President of European Commercial Operations, and in leadership roles in Investor Relations, Corporate Communications, Strategic Planning and Corporate Development. Mr. Berges, 46, most recently served as CFO for Cheops Technology nv/sa, an industry-leading managed service provider in secure IT infrastructures and cloud We'll go next to Biraj Borkhataria with RBC. I'll give you this one plus one. First, giant hedge fund D.E. And given what's happened to cracks and the general concerns around demand today, and, you know, granted, I think, Darren's commentary on the market was probably a bit more positive, but are there any concerns about adding capacity at a time where fundamentals appear to be weakening? He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. He also has served as Chief Commercial Officer and President of Valero Europe. Apr 24 2023 - Wilmington, MA. Search. ET. So, that gives you, I'd say, a little bit of a characterization of where savings are coming from. Hebegan his career with Valero in 1999. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector.
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