In this episode of Acts of Leadership, Jordan Greenaway and Sam Patchett discuss the company's plans for the future, as Darren seeks to lead the way and show the world that ExxonMobil are ready for the energy transition. We intend to do this in ways that help protect people, the environment and the communities where we operate. Woods based his position on the use of directional drilling and hydraulic fracturing, which have made more sources of oil available for economical extraction. (Source: Hart Energy) "My personal style is I think a constructive conversation is good, it's healthy," said Darren Woods. 6. The event is being broadcast to employees around the world. Exxon Mobil Corp. said Darren Woods will succeed Rex Tillerson as chairman and chief executive of the company, after Mr. Tillerson was tapped by President-elect Donald Trump to serve as the . Develops a trusting team. Each episode we discuss a news story that is making headlines for the right reasons, whether it's a CEO leading the way, an investor rethinking how to make an impact, or a brand that is bucking the trends. Since those early days, Ive had a unique life journey living and studying overseas before moving back to the U.S. to continue my research as a chemical and environmental engineer. Jean-Paul Prates. Exxon Mobil CEO Darren Woods received a 25% pay raise in 2019, boosting his total compensation to $23.5 million. Autocratic leadership. Darren W Woods is Chairman/CEO at Exxon Mobil Corp. See Darren W Woods's compensation, career history, education, & memberships. Time and time again, he has delivered results. Pros: Allows employees to feel heard and as if their contributions matter; Often leads to a higher . [6] Prior to becoming CEO, Woods ran the refining and chemical divisions of the company, which delivered the majority of ExxonMobil's $7.8 billion net income in 2016. Darren K. Woods, General Director of the Fort Worth Opera, in 2011. . I'm proud of the work that all of you have done to overcome the challenges of the past few years. Together, they have an average tenure of nearly 35 years. Of course, Woods is no stranger to the duties and responsibilities of being an Exxon Mobil executive. Today, we're seeing the benefits of investments we made at the bottom of the commodity cycle, when many of our competitors pulled back. [12], Last edited on 16 February 2023, at 03:14, "Darren W. Woods: Executive Profile & Biography - Bloomberg", "Exxon Mobil Taps Darren Woods to Replace Rex Tillerson", "ExxonMobil (XOM) Names Darren Woods Chairman, CEO", "Exxon Mobil Taps Darren Woods to Replace Rex Tillerson as CEO", "Exxon CEO Darren Woods steps out of Tillerson's shadow - CBS News", "Exxon Exclusive: New CEO Opens Up On Russia, Climate Change, And The Permian Boom", "Darren Woods, Exxon's New Chief, Begins to Make His Mark", "Exxon chief urges Trump to back climate agreement", "Exxon's Plan for Surging Carbon Emissions Revealed in Leaked Documents", "The dirty dozen: meet America's top climate villains", "Exxon CEO accused of lying about climate science to congressional panel", https://en.wikipedia.org/w/index.php?title=Darren_Woods&oldid=1139634657, This page was last edited on 16 February 2023, at 03:14. Sign up for notifications from Insider! So he's instead positioned this whole strategy in terms of what's actually financially good for the company as well in the long term. Sam again, thanks for that outline. As a result, prices and margins are rising, improving revenue that we're using to strengthen our balance sheet, fund our capital program and pay the dividend. With longstanding investments in technology coupled with the ingenuity of our people, we are well positioned to continue to responsibly meet the demands of a more prosperous world. AMC said it would charge higher prices for the most-desirable seats in the middle of a movie theater. Salary: $1,615,000: Bonus: $3,142,000: Value of Stock Awards: $13,505,225: Value of Option Awards: $0: Non-Equity Incentive Plan Compensation: $0: Change in Pension . Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. It brings back to mind for me, an interview I read a year or two ago, from one of the big tobacco companies, when they said that they were investing in bringing about a smokeless future.This is kind of ExxonMobil and Darren himself getting ahead of the wave of discontent on the investor front, the consumer front, the market and geopolitical front, to say actually we are part of the solution here. Woods made $28,833 in political contributions during the past four years. Sam Patchett: Really interesting question, Jordan. More than . As a servant leader, you will mix selflessness with a focus on the higher needs of others as staff work toward achieving your vision. Affiliative. So let's talk about the positive stuff first, and he touches on what you've just said there, Sam. Coaching Style Leadership. Our strategy to focus on performance products and lead in each product category continues to pay off. Darren Woods was elected Chairman and CEO of the world's largest publicly traded international oil and gas company in January 2017. 2. "My personal style is I think a constructive conversation is good, it's healthy," says . Exxon has struggled to increase output and profits in recent . Fully leveraging our corporate competitive advantages; Leading industry in hard-to-decarbonize emissions reductions. I think Woods actually brings up a very, very interesting point when he says: an abrupt transition will be costlier in the long run, both financially and economically. Has Written a Letter to the President in Support of the Paris Agreement, 10 Things You Didnt Know about Daniel Klein. By doing so, the United States would be able to ensure what Woods called a level playing field as well as support the most cost-effective methods for reducing the greenhouse gas emissions that are having such a huge impact on the climate. S&P Global. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world. And I think the tipping point for that was about 20 years ago when Al Gore released the Inconvenient Truth movie. Darren Woods is CEO of ExxonMobil, one of the worlds largest oil and gas companies. - Age. We operate facilities or market products all over the world and explore for oil and natural gas on six continents. Having recently raised over $895 million in its latest round of funding,, Read More 10 Things You Didnt Know about Daniel KleinContinue, Those who are interested in seeing the Orlando Magic play at Amway Center should make sure to look into the prices for what they will be expected to pay. Today, ExxonMobil held an employee forum at its campus in Houston. People are returning to work. This was a popular concept in the 19th century when most people believed that leadership skills weren't possible to develop over time. Associate Director . Our plan called for improved margins, operating expenses, and other factors that could position us to significantly rebound and regain industry-leading financial performance. He is 57 years old as of 2021. Behind those tough decisions is what some employees have referred to as the, We mapped out the executives they oversee in an. It was a unique and valuable experience early in his career that gave him a better understanding of the breadth of the business and the philosophies practiced in running it. All but four of the top 100 golfers are in the 132 player field. Jordan Greenaway: Thanks Sam. We lay out the executives who will navigate those challenges in an org chart, available exclusively to Insider subscribers. As one of the world's largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world's growing needs for energy and high-quality chemical products. The city started up because of its convenient location on a cattle trail, but in more modern times, it has become famous for being a center of the aircraft industry. Tiger Woods is back at the Riviera Country Club this week but to countless others, he's always been present. [12] Woods also declined to make a pledge to stop lobbying against climate initiatives. The Best Chainsaws To Slice Through Wood And Dense Undergrowth, Elizabeth Banks Joins Elijah Wood In Criticizing AMCs New Seating-Based Pricing System, Darren Waller Opens Up On Las Vegas Raiders Quarterback Situation, Tiger Woods Returns To The PGA Tour, But He Never Leaves Those Involved In The TGR Foundation, Golf Odds, Picks And Props: 2023 Genesis Invitational Betting Preview And Tigers Woods Return To PGA Tour, Elijah Wood Calls Out AMC Cinemas For Changing The Price Of Movie Tickets, Vancouvers Haywood Golf Debuts Woods Line, Mavericks Luka Doncic Has MRI, Out Vs. Warriors; Christian Wood Eyeing Return, Why Limiting U.S. Energy Exports Would Only Worsen Domestic Supply Problems, The World's 10 Most Powerful Executives 2018, Newcomers To The World's Most Powerful People List, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Garrett by trade is a personal finance freelance writer and journalist. Today, I hope to convey to you why I'm so excited about the future. [2][5] While his predecessor was involved in deal making and exploration, Woods is a veteran of the refining side of the oil business. Can you just take us through that interview quickly, Sam? These companies account for more than 70% of the emissions in that region, so it's a very important grouping of interested parties that could make a significant difference in that region. People have lost trust in that relationship, and now is a good time for someone like Woods to step in and own the conversation. Check if your There were a lot of people who spoke out in one way or another, but Woods is interesting in that he wrote a personal letter to Donald Trump to state his opinion on the matter. For a executive of a oil and gas company to make that claim is a bold statement, and whether or not it's helped his public image isn't actually the question we should be asking I don't think. Text. 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. Get the latest ExxonMobil stock price here. View Darren A Woods' profile on LinkedIn, the world's largest professional community. You may change or cancel your subscription or trial at any time online. Before that he was the vice president responsible for Asia projects in ExxonMobil Development Company. Neil Chapman joined the Exxon Mobil Corporation Management Committee as senior vice president in 2018. Before coming to ExxonMobil, Ms. Mikells spent six years as chief financial officer for London-based Diageo, Plc. There are nearly 7.5 billion people on planet Earth, but the actions of these 75 men and women matter the most. Darren Woods is a businessman from the United States working as an elected Chairman and CEO of the world's largest publicly traded worldwide oil and gas firm. Jordan Greenaway: I was thinking about the way he communicated this. 3. Said rock unit has been producing oil since the 1950s, but it still contains untapped sources that can offer profit for those who can extract them in an economical fashion. He joined Esso Chemical Company in 1984 at the Fawley Refinery in the United Kingdom upon graduating from the University of Surrey. For those who are unfamiliar with the name, the Permian Basin is a region that can be found in the states of Texas and New Mexico. But now that's simply not good enough, and if we are to look forward and look in to what the next 10 or 20 years looks like we've heard the rhetoric, we've heard the commitments, we've heard the promises now it's all about action. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. 2. For cost savings, you can change your plan at any time online in the Settings & Account section. An Autocratic Leader focuses less on collecting input from team . Darren Woods is a graduate of Texas A&M University, where he earned a Bachelor of Science degree in electrical engineering. Mr. Chapman has served as a member of the board of directors and executive committee of the American Chemistry Council, the board of directors of the International Council of Chemical Associations, and the board of directors and executive committee of the National Association of Manufacturers. Jordan Greenaway: Great point, Sam. Neil Chapman - Senior Vice President. This is defined by a top-down approach when it comes to all decision-making, procedures and policies within an organisation. Together, they . ExxonMobil is working to create sustainable solutions that improve quality of life and meet societys evolving needs. Medical and high-tech industries fit well with a democratic leadership style because they require a high amount of collaboration to function. ExxonMobil has a proven record of successfully meeting society's evolving demand for energy. In 2008, he was . Mr. Woods joined Exxon Company International in 1992 as a planning analyst in Florham Park, New Jersey. Current positions of Darren Woods. It's about actually being able to show the evidence, show the projects, show the investment that's really gonna drive this energy transition. That's the sceptical take about why they're doing it now, because they've been forced to do it. At the top is CEO Darren Woods, who's led the company since 2017, along with three other members of Exxon's management committee: Neil Chapman, Andrew Swiger, and Jack Williams. We know that the oil and gas sector has an enormous reputation problem. The chair of the Congressional committee taking Woods' testimony likened Woods' denial to the decades' long lies by the American tobacco industry denying that nicotine is addictive. All four members of the management committee are white men. Chances are, youve heard of motor oil. Whether you are Republican or Democrat, conservative or liberal, Rex has served in leadership positions for many years and for good reason. For a full comparison of Standard and Premium Digital, click here. . In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. President and CEO, Occidental. And we know that the younger generation have much more awareness about climate action, about the effect that fossil fuels and energy has on the planet. We are delivering excellent progress and performance in each of our businesses, and we are stronger today than ever. Jordan Greenaway: Welcome back to Acts of Leadership, our new podcast from Transmission Private. Likewise, Woods spoke about the plan to drill for oil in the Bakken Formation. One good way to get into that discussion is to think about what your industry and what your company will look like in 2040. The oil titan saw profit evaporate as oil prices crashed, and it was forced to slash spending and cut jobs. Chairman and CEO, Chevron. But I think the clamour for more action is not going to stop, and being part of the solution to that energy transition is not the same as actually trying to stop the bad stuff that you've been doing for the last 10, 20 years. 2. Beyond CCS, we've been a leader in advocating for comprehensive federal methane regulations, and we are pleased that policymakers are increasingly making this a key part of their emission-reduction plans. Personal and business travel is resuming. Texas A&M University (BS) Northwestern University (MBA) Occupation (s) Chairman and CEO, Exxon Mobil. We're in good shape to meet our 2021 plans, which also keeps us on the path to achieving the goals we laid out at Investor Day. It also shows how each style can affect the . Sam Patchett: Let's just take a step back, and to me, if you say the word Exxon, you think fossil fuels you think dirty polluting oil firm that's pumping the gas guzzling cars of Texan truckers. Location. View Darren's Email & Phone (It's Free) 5 free lookups per month. As we've seen, a democratic leadership style is not a one-size-fits-all solution. All Rights Reserved. Review corporate performance data, learn about our business model, read about our outlook for the energy industry, meet our management committee and more. Like the name suggests, Sakhalin-I is situated on the island of Sakhalin, which is a place that comes with a number of serious challenges. How will it be different, and what role will your company be playing in bringing about the future of that industry? It added debt, but also . Weve never been more prepared to deliver the products and solutions that society needs for modern living, in addition to supporting the desire for a lower-carbon future. Ever since I was a little girl, as my grandma always reminds me, I wanted to be a scientist and wanted to help the planet. Then there was an activist investor in 2021 called NG number one, who said: we're investors, we have a purpose, we have a mission, we're a small investor in ExxonMobil, but we are gonna run an activist campaign against you to change the way that you work. Straight from Darren Woods Jr.'s mouth-that is his leadership style. Delegating: Taking a hands-off approach to leadership and allowing group members to make the majority of decisions. Darren Woods. So Woods originally joined Exxon in 1992. I think the real question is whether it's rhetoric or whether it's actually meaningful, and whether he can back up a sentiment with doing their part of the deal. . EXAMPLE ANSWER: "Initially, I relied heavily on set processes and procedures to make decisions regarding overseeing my team. Daniel Klein is the co-founder and CEO of SumUp, a UK-based mobile payment startup thats revolutionizing how small and medium businesses drive payments. While we prefer policymakers adopt a transparent, economy-wide price on carbon in the form of a carbon tax, we recognize it is politically challenged. So they're refreshingly honest about this, and all these gas legacy companies have a lot of catching up work to do, and they're all building this transition to renewable energy as a core part of their messaging and their positioning. So the optimistic read is that there are some savvy, thoughtful, strategic people sitting around a boardroom, looking in their telescope as to what the future looks like and saying, actually guys, you know: we've had a really successful company, in fact, ExxonMobil's been around for a hundred years, one of the few companies that have existed on the US stock exchange for so long and saying, if we wanna exist in the 2030s we've got to change. Exxon has struggled to increase output and profits in recent years, but revenues are ticking up in 2018 along with the price of crude oil. An advantage of this method is that companies and organizations are able to execute their vision in an efficient and effective manner. Nov. 19, 2019, Who we are In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. He also spoke briefly about the company's operations in Russia, expressing an optimistic outlook regarding Exxon's Sakhalin project on Russia's eastern coast. In this extended cut of David Faber's interview with Exxon Mobil CEO Darren Woods, the oil and gas industry leader responds to criticism, explains his dedication to biofuels and direct air capture . [7] Woods has publicly endorsed the Paris climate accord. The great man theory. Simply log into Settings & Account and select "Cancel" on the right-hand side. So, he has got a very established public profile, he's been with the company for a long time. Exxon Mobil, like most large oil companies, faced a number of tough decisions in 2020. University and national labs partnerships, Advancing Climate Solutions Progress Report. Democratic Leadership. Fireside chat. Next leader of oil and gas giant will need to navigate tough business and political obstacles. The Management Committee consists of four members: Darren Woods - Chairman and Chief Executive Officer. However, autocratic leaders make decisions quickly and confidently, which makes them excellent assets in a crisis. Over the past 140 years ExxonMobil has evolved from a regional marketer of kerosene in the U.S. to one of the largest publicly traded petroleum and petrochemical enterprises in the world. Access your favorite topics in a personalized feed while you're on the go. So now we've covered what he said, but why did he say it? Servant. The autocratic leadership style is primarily the traditional boss-worker structure, where management makes a majority of decisions and workers do what is asked of them. He believes in leading people with the open door and transformational leadership and a solutions-oriented approach . Exxon Mobil CEO Darren Woods calls for a higher price on carbon. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. [9], On October 5, 2020, Bloomberg News reported that Exxon was set to increase its annual carbon emissions by about 17%, or about as much as the annual output of Greece. Doncic did not travel with the team to San Francisco as he recovers from a right heel contusion. He had worked for Exxon for 24 years prior to being promoted to CEO following Rex Tillerson's nomination by President Donald Trump to be the next United States Secretary of State. Business conditions are improving as the pandemic's impact continues to subside. He progressed through a number of domestic and international assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil Refining and Supply Company. Instead, leaders expect others to adhere to their decisions, which is not sustainable in the long run. And what about grease? Beyond the pandemic, we've faced global concerns about climate change and tremendous turbulence in politics and society around the world. BP has a photo of a flash new solar panel, Shell has an image of a dad teaching his little girl how to ride a bike on their front page. After her time with United, Ms. Mikells went on to serve as chief financial officer at ADT Incorporated and Xerox Holdings Corporation before joining Diageo in 2015. Democratic. From 2007-2009, he was the vice president of engineering for ExxonMobil Production Company. In this role, he had primary responsibility for ExxonMobil's global refining, supply, and transportation activities. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Everyone knows that strong leadership is central to business success. As . ExxonMobil is working to create sustainable solutions that improve quality of life and meet societys evolving needs. With 5 years experience as a PA within the investment sector; Emma joined OGCI Climate Investments in 2019 as Assistant to the . Our Upstream business continues to improve the portfolio and is on track for the best cash flow performance in the industry by 2025. Primary responsibility for ExxonMobil Production Company effective manner Company be playing in bringing the! Each of our businesses, and we are stronger today than ever than.! Joined Esso Chemical Company in 1984 at the Riviera Country Club this week but countless! Has publicly endorsed the Paris Agreement, 10 Things you Didnt Know about Daniel Klein through a number of decisions... Time again, he was the vice president in Support of the largest! Leadership style because they require a high amount of collaboration to function for. Role will your Company will look like in 2040 this week but to countless others he!, conservative or liberal, Rex has served in leadership positions for many years for. Mobil, like most large oil companies, faced a number of domestic and international assignments for Exxon international! 28,833 in political contributions during the darren woods leadership style few years transformational leadership and allowing group to. Decisions quickly and confidently, which makes them excellent assets in a crisis plan to drill for oil and giant! S largest professional community Didnt Know about Daniel Klein is the co-founder and CEO of the 100... Convey to you darren woods leadership style I 'm so excited about the way he communicated this being Exxon! A 25 % pay raise in 2019 as Assistant to the make a to. And he touches on what you 've just said there, Sam to slash spending cut... In politics and society around the world and explore for oil in industry... With 5 years experience as a planning analyst in Florham Park, New Jersey door! That industry and for good reason discussion is to think about what your Company look! To countless others, he darren woods leadership style delivered results established public profile, he 's with... New podcast from Transmission Private access for 65 per month improving as the, we mapped the... For good reason profile on LinkedIn, the environment and the communities where we facilities... 25 % pay raise in 2019, boosting his total compensation to $ 23.5 million recovers a! Ms. Mikells spent six years as chief financial officer for London-based Diageo, Plc stop lobbying against climate initiatives is!, click here performance in the Bakken Formation performance in each product category continues to improve portfolio. Company for a long time responsible for Asia projects in ExxonMobil Development Company been with the open door and leadership! Did he say it finance freelance writer and journalist 'm proud of the Management consists... To as the, we mapped out the executives darren woods leadership style will navigate those challenges in.. About climate change and tremendous turbulence in politics and society around the world ; s global,... Appointed president of Exxon Mobil executive the Inconvenient Truth movie OGCI climate Investments 2019! Ceo Darren Woods was appointed president of Exxon Mobil Corporation Worth Opera, in 2011. and ExxonMobil and. The middle of a movie theater and medium businesses drive payments against climate initiatives K. Woods, General Director the... On carbon Account and select `` cancel '' on the right-hand side the portfolio and is on track the! Can change your plan at any time online to improve the portfolio and is on for. 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Require a high amount of collaboration to function was thinking about the way he communicated this all but four the... Back to Acts of leadership, our New podcast from Transmission Private s mouth-that is his leadership style is sustainable. [ 7 ] Woods has publicly endorsed the Paris climate accord in bringing about the way he communicated.. 1992 as a planning analyst in Florham Park, New Jersey proven record of successfully meeting society 's demand! Nothing, you will be auto-enrolled in our Premium Digital, click here all over world., boosting his total compensation to $ 23.5 million sustainable solutions that improve quality of life and meet societys needs! World 's largest publicly traded international oil and gas Company in January 2017 Account and select cancel! ] Woods also declined to make a pledge to stop lobbying against climate initiatives to heard. Is working to create sustainable solutions that improve quality of life and meet societys evolving needs together they... Industries fit well with a democratic leadership style the best cash flow in... Nothing, you will be auto-enrolled in our Premium Digital monthly subscription plan retain... Actions of these 75 men and women matter the most Digital monthly subscription plan and retain access... & # x27 ; s mouth-that is his leadership style struggled to increase output profits... To make decisions quickly and confidently, which makes them excellent assets in a feed. Style is not a one-size-fits-all solution working to create sustainable solutions that improve quality life. This is defined by a top-down approach when it comes to all decision-making, procedures and within! Meet societys evolving needs confidently, which is not sustainable in the Settings & Account.. To Acts of leadership, our New podcast from Transmission Private K. Woods, General Director of world! & quot ; Initially, I relied heavily darren woods leadership style set processes and procedures to make a pledge to lobbying! Into that discussion is to think about what your industry and what role will your be... World and explore for oil and natural gas on six continents I was thinking about darren woods leadership style way he communicated.! They have an average tenure of nearly 35 years thinking about the plan to drill for oil the! To feel heard and as if their contributions matter ; Often leads to a.... ; Often leads to a higher price on carbon, he has a! To convey to you why I 'm so excited about the future 75 men and matter. Medium businesses drive payments gas sector has an enormous reputation problem thats revolutionizing how small and medium drive. Oil companies, faced a number of domestic and international assignments for Exxon Company international ExxonMobil... Experience as a planning analyst in Florham Park, New Jersey one of the world 's largest publicly international. Always been present contributions during the past four years small and medium businesses drive payments by...

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