Positive drivers were volume and mix improvements driven by reliable operations and the Beaumont refinery expansion start-up and the absence of unfavorable prior-quarter unsettled derivatives. Copyright IR Media Group Ltd. 1995 - 2023 All rights reserved. HR Full Circle Consulting LLC - East Peoria McCarron, who has been vice president since 2016, joined Mobil in 1998 as a manager in public affairs in Canada. AL. Previously, he served as vice president of strategic communications and external affairs of T.G.I. Lower liquids and natural gas realizations coupled with the absence of favorable mark-to-market impacts on unsettled derivatives, fewer days in the quarter, and higher scheduled maintenance negatively impacted results sequentially. Mikells holds an MBA from the University of Chicago. Manager LNG Operations Head Of Marketing at ExxonMobil Dallas-Fort Worth Metroplex. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices and differentials for our products; government policies supporting lower carbon investment opportunities such as the U.S. Inflation Reduction Act or policies limiting the attractiveness of future investment such as the additional European taxes on the energy sector; variable impacts of trading activities on our margins and results each quarter; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of COVID-19 or other public health crises, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources; the level and outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; government policies and support and market demand for low carbon technologies; war, civil unrest, attacks against the company or industry and other political or security disturbances; expropriations, seizure, or capacity, insurance or shipping limitations by foreign governments or laws; opportunities for potential investments or divestments and satisfaction of applicable conditions to closing, including regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs. The company believes it is useful for the Corporation and its investors to understand the total tax burden imposed on the Corporations products and earnings. This is the fifth offshore project and is expected to provide an additional 250,000 oil-equivalent barrels per day of gross capacity with start-up targeted for 2026. Earnings excluding identified items is not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. cubic feet per day (mcfd), Delivered record first quarter earnings of $11.4 billion, demonstrating structural earnings improvements through growth of advantaged assets, mix improvements, and cost and execution efficiencies, Increased oil and gas net production by nearly 300,000 oil-equivalent barrels per day versus first-quarter 2022, excluding divestments, entitlements, and Sakhalin-1 expropriation, Started up the Beaumont Refinery expansion and reached full capacity of 250,000 barrels of production per day to help meet global demand, Announced final investment decision for the Uaru offshore development and two new discoveries in Guyana, Grew Low Carbon Solutions business with the execution of a new long-term customer contract for carbon capture, transportation, and storage. In 2001, Swiger moved to London as production vice president for Africa, and in 2003 was appointed production vice president for the Europe/Caspian/Russia region. She will take up her new role next month, when current CFO Andrew Swiger steps down after 43 years at the company. Morford is currently deputy general counsel. , She is a former CFO at Xerox, ADT, Nalco and United Airlines. To listen to the event or access an archived replay, please visit www.exxonmobil.com. A former director of marketing at Starbucks and Microsoft, Jessica Shapirojoins LiveRamp as chief marketing officer, as the leading data enablement platform looks to generate more than a half-billion dollars in revenue this fiscal year. 4 . Our people's hard work to execute on our strategic priorities delivered a record first quarter following a record year, said Darren Woods, chairman and chief executive officer. Chan Executive Legal Counsel at ExxonMobil Singapore 427 followers 430 connections Join to view profile ExxonMobil National University of Singapore, About Experienced General. Employees 62,000. 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Shareholder distributions of $8.1 billion included $4.3 billion of share repurchases, keeping the company on track to repurchase up to $17.5 billion during the year. Receive independent news, thoughtful journalism & expert insights about leadership, corporate governance & key boardroom issues straight to your inbox every week. Previously she was chief financial officer at Xerox, ADT, Nalco and United Airlines. Jos Evens Join to view profile ExxonMobil. General Manager, Mozambique, and Chairman, Rovuma LNG, S.A. Based in Maputo, Jos is responsible for ExxonMobils business in Mozambique including the Rovuma LNG development. In addition to having more than 25 years of sales management experience in the automotive and real estate industry, Brian brings a depth of experience in EV adoption to help Fermata Energy expand its system and help combat climate change, increase energy resilience and reduce energy costs, said David Slutzky, president and CEO of Fermata Energy. Randall Ebner has announced his retirement from serving as vice president and general counsel for Exxon Mobil Corp., effective Nov. 1. DAmato received her post-graduate executive education from Harvard Business School and a bachelors degree from California State Polytechnic University, Pomona. Robinson, a vocal advocate for racial equity, will work within the communities. Structural cost savings describe decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, and other cost-saving measures that are expected to be sustainable compared to 2019 levels. Since that time, McCarron held assignments of increasing responsibility in ExxonMobils corporate headquarters in Irving, Texas, including general manager of public affairs and president of the ExxonMobil Foundation. ExxonMobil picks successor to general counsel Oct 05, 2020 Randall Ebner retiring after more than 40 years at the company ExxonMobil Corporation's board has picked Craig Morford as the company's next vice president and general counsel. First-quarter 2023 earnings were $11.4 billion compared with $12.8 billion in the fourth quarter of 2022. In addition, earnings were impacted by the absence of favorable year-end inventory impacts. Individual opportunities may advance based on a number of factors, including availability of supportive policy, technology for cost-effective abatement, and alignment with our partners and other stakeholders. HudsonLake and Hudson Studio have merged and promoted communication professionals Kim Cerda to chief human resources officer and Quinton Crenshaw to chief marketing officer at its Dallas base. Statements related to outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions in this release, are forward-looking statements. The company may refer to these opportunities as projects in external disclosures at various stages throughout their progression. Our weekly The board of directors has elected its current Deputy General Counsel Craig Morford to replace Ebner in both roles. In addition, two new exploration discoveries were made this year. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K filed the same day as this news release. ExxonMobil Upstream Oil & Gas Company. The company may refer to these opportunities as projects in external disclosures at various stages throughout their progression. Darren Woods, ExxonMobils chair and CEO, said: We welcome Kathy to ExxonMobil and look forward to the perspective and experience she brings as we work together to deliver on our strategies and increase shareholder value.. and monthly updates will provide you with expert analysis, timely updates and comprehensive coverage of I thank Suzanne for her many contributions to the companys success during her career and wish her all the best in retirement.. In her new role, Stockstill will Medical technology firm Becton Dickinson and Company (BD) has named Michelle Quinn as executive vice president and general counsel for the company NYSE-listed Cushman & Wakefield has recruited Noelle Perkins to become executive vice president, general counsel and corporate secretary, Starbucks Coffee Company has hired Brad Lerman as executive vice president and general counsel. Energy Products earnings totaled $4.2 billion, up $113 million from the fourth quarter. Identified Items Per Common Share1 (non-GAAP), Earnings/(Loss) Excl. When the effect of these events is significant in aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials. Gina Clark is executive vice president and chief communications & administration officer for AmerisourceBergen where she oversees strategic communications, marketing, government affairs, and corporate citizenship. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. Philip Wong We thank Randy for more than 40 years of service to the company, most recently as our general counsel, ExxonMobil CEO and chair Darren Woods says in a statement. It combines Income taxes and Total other taxes and duties with sales-based taxes, which are reported net in the income statement. Unless otherwise indicated, references to earnings, Upstream, Energy Products, Chemical Products, Specialty Products and Corporate and Financing segment earnings, and earnings per share are ExxonMobils share after excluding amounts attributable to noncontrolling interests. Before entering the corporate sector, Furman worked in various public sector positions including as Director of Communications for the Federal Emergency Management Agency and the New York City Mayors Office of Emergency Management. Unless otherwise indicated, references to earnings, Upstream, Energy Products, Chemical Products, Specialty Products and Corporate and Financing segment earnings, and earnings per share are ExxonMobils share after excluding amounts attributable to noncontrolling interests. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. President Andrew Swiger to retire as senior vice president of Exxon Mobil Corporation;Kathryn Mikells elected senior vice president and chief financial officer. Risk Factors of ExxonMobils 2022 Form 10-K. (Chief Content Officer, Chief Marketing Officer, Chief Digital Officer) the COO will communicate, implement, and support the strategies . in the fast-moving world of corporate governance by signing up for our popular newsletters. Earnings excluding identified items decreased from $8.8 billion to $6.6 billion. ExxonMobil Asia Pacific Pte Ltd (EMAPPL). Relative to 2019, estimated cumulative structural cost savings totaled $7.2 billion, which included an additional $0.3 billion in the first three months of 2023. Sector Major Oil & Gas. Compared to the same quarter last year, earnings increased by $298 million, with favorable pricing actions partially offset by unfavorable foreign exchange impacts. After four years of bringing best-in-class media planning and buying capabilities for both traditional and digital media under one roof, Nuckols will continue to be the driving force behind the unrivaled department.