Kathy Mikells, the primary outsider to affix Exxon Mobil Corp.’s inside circle of prime executives, will retire subsequent 12 months as she battles a severe however non-life threatening well being situation.
Mikells, 60, joined Exxon in 2021 when the Texas oil big was underneath stress from shareholders to enhance monetary efficiency, diversify its management and construct a low-carbon enterprise. She is going to retire on Feb. 1 to deal with her well being, Chief Govt Officer Darren Woods stated in a presentation to buyers Tuesday. She might be changed by Neil Hansen, a 25-year Exxon veteran who leads the corporate’s international enterprise options division.
“In latest months Kathy has undergone a sequence of procedures and surgical procedures to deal with a debilitating however fortunately non-life threatening well being challenge,” Woods stated. “Whereas her situation has improved, it has change into clear to her, and I feel the remainder of us, that she must focus totally on her restoration.”
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Mikells got here to Exxon from beverage titan Diageo Plc and have become the primary feminine senior vice chairman on the corporate’s administration committee, which oversees day-to-day operations and units technique. She was additionally the primary govt to carry such a excessive place at Exxon with out a background in oil, pure fuel or chemical substances.
“Issues are completely getting higher, however it has been gradual going, and I nonetheless have plenty of work to do with my docs to someday get again to my traditional self,” Mikells stated. “I do know my colleagues on the decision at present will acknowledge the sincerity of my disappointment in needing to depart this nice firm.”
Mikells modernized Exxon’s finance operate and was the primary supervisor to carry the formal title of chief monetary officer. She overhauled investor communications and offered extra granular, forward-looking data to analysts and the market normally.
Hansen has been ready for the CFO position “for a few years,” Mikells stated. “It grew to become clear to me in latest weeks that my love for this firm meant I needed to step apart and let somebody who might focus full time on the CFO position take over.”
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