News releases March 1, 2021
Michael Angelakis and Jeffrey Ubben join ExxonMobil board of directors
News releases March 1, 2021
Angelakis is chairman and CEO of Atairos, an independent strategic investment company focused on supporting growth-oriented businesses across a range of industries. Prior to founding Atairos, he served as Comcast Corporation’s vice chairman and chief financial officer. In those roles, Angelakis led strategic planning, capital allocation and corporate development, including overseeing Comcast’s successful transition into media and other technologies. Angelakis is a non-executive director of TriNet Group, Inc. and Groupon, Inc., and is a former chairman of the Federal Reserve Bank of Philadelphia.
Ubben co-founded Inclusive Capital Partners, a San Francisco-based investment firm focused on increasing shareholder value and promoting sound environmental, social and governance practices. Previously, he was a co-founder of ValueAct Capital Partners, an investment firm emphasizing strong, constructive relationships with company management teams and boards. He is currently a non-executive director for Appharvest Inc., Enviva Partners LP and Nikola Corporation.
“We welcome these new directors as part of our ongoing board refreshment, which builds on the diverse global business experience of our current members,” said Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation. “Michael and Jeff’s expertise in capital allocation and strategy development has helped companies navigate complex transitions for the benefit of shareholders and broader stakeholders. Their contributions will be valued as ExxonMobil advances plans to increase shareholder value by responsibly providing needed energy while playing a leadership role in the energy transition.”
With the election of Angelakis and Ubben, the ExxonMobil board increased to 13 directors, 12 of whom are independent. In recent years the company has pursued additional board expertise in the areas of climate science, asset and risk management, and relevant industry experience. Seven independent directors have been appointed since 2016. The average director tenure for the ExxonMobil board is less than five years, compared to an average of eight years for companies in the S&P 500.
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
Public Company Information: NYSE: XOM
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