KEY FIGURES: MANUFACTURING THROUGHPUT AND SALES, Refinery throughput, thousand barrels per day (kbd), Energy Products sales, thousand barrels per day (kbd), Chemical Products sales, thousand metric tons (kt), Specialty Products sales, thousand metric tons (kt), KEY FIGURES: CAPITAL AND EXPLORATION EXPENDITURES, KEY FIGURES: YEAR-TO-DATE EARNINGS/(LOSS), 1 Computed using the average number of shares outstanding during each period; assuming dilution, ExxonMobil Announces First-Quarter 2023 Results, Internet Explorer presents a security risk. Earnings/(loss) excluding identified items does include non-operational earnings events or impacts that are generally below the $250 million threshold utilized for identified items. To listen to the event or access an archived replay, please visit www.exxonmobil.com. He was also with Cypress Equities and GGP (now Brookfield Retail) earlier in his career. Vice President of Global LNG Marketing and Chairman - ExxonMobil LNG Market Development: 000 0000: 000000 00000: Self: Board Member & Member of Compensation (Chair); Environment, Safety and Public Policy Committee . Projects or plans may not reflect investment decisions made by the company. Morford then joined ExxonMobil in 2019 as deputy general counsel. His focus will be servicing DuWests existing landlord clients and selectively representing retailers and medical users while reinforcing DuWests presence as a dynamic results-oriented project brokerage firm. This report, by McKinsey and EuroCommerce, outlines the EU retail and wholesale sectors ambitions for Mikells, a former CFO at Diageo, Xerox, ADT, Nalco and United Airlines, will take over from Andrew Swiger next month. Identified items unfavorably impacted earnings by $158 million this quarter, down from $561 million in the previous quarter. Compared to the same quarter last year, earnings increased $4.4 billion due to stronger industry refining margins, increased marketing and trading contributions, and favorable volume/mix impacts, partly offset by increased scheduled maintenance. Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. In addition, CMO identifies potential markets, customer segments, and products to explore. Frequently Used Terms and Non-GAAP Measures. Identified items unfavorably impacted earnings by $158 million this quarter, down from $561 million in the previous quarter. Corporate and affiliate officers | ExxonMobil regulatory updates, governance trends and best practices, careers and much more. Compared to the same quarter last year, net charges declined $339 million due to lower financing costs. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. Stay informed on the latest trends and developments The main drivers were lower prices, with crude and natural gas realizations down 10% and 23%, respectively, and unfavorable unsettled derivatives mark-to-market effects of $2.0 billion, largely reflecting the absence of a positive mark-to-market impact in the prior quarter. Specialty Products earnings were $774 million, up $14 million from the fourth quarter. , NJ. Hough is Foxtons director of finance and company secretary, and will take over from current CFO Richard Harris in April. All Rights Reserved. James Moretti Chief Operations Officer at ExxonMobil. This press release also includes total taxes including sales-based taxes. 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. It is the CMO's role to identify our target market within each channel and create aspirational brand awareness, conversions and reducing costs for each customer acquisition. 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. ExxonMobil Corporations board has picked Craig Morford as the companys next vice president and general counsel. Previously she was chief financial officer at Xerox, ADT, Nalco and United Airlines. The prior-year period was negatively impacted by an identified item associated with the Sakhalin-1 expropriation. Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated. 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. She is currently pursuing a Doctor of Education in organizational change and leadership at the University of Southern California. Dont just tell staff to behave ethically. The company believes it is useful for investors to consider these numbers in comparing the underlying performance of the company's business across periods when there are significant period-to-period differences in the amount of changes in working capital. AL. To contact anyone on our team, please use our contact us form and check the appropriate filter for your requirements. Excluding the identified item associated with additional European taxes on the energy sector, earnings were $11.6 billion compared to $14.0 billion in the prior quarter. This press release also includes cash flow from operations and asset sales excluding working capital (non-GAAP). I thank Suzanne for her many contributions to the companys success during her career and wish her all the best in retirement.. All Rights Reserved. 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. The company announced its final investment decision for the Uaru development in Guyana. James Moretti Chief Operations Officer James Moretti serves as the Chief Operations Officer of ExxonMobil. Show them how. Receive independent news, thoughtful journalism & expert insights about leadership, corporate governance & key boardroom issues straight to your inbox every week. These impacts were partially offset by higher volumes, mix improvements driven by advantaged project growth, strong operating execution, and disciplined cost management. Compared to the same quarter last year, earnings increased by $298 million, with favorable pricing actions partially offset by unfavorable foreign exchange impacts. Compared to the same quarter last year, earnings decreased by $1.0 billion on weaker industry margins and lower sales, reflecting softer market conditions. 2 The emission reduction outcome of this project is subject to the timing and regulatory approval of necessary permits, acquisition of rights of way, changes in regulatory policy, supply chain disruptions, and other market conditions, Dollars in millions (unless otherwise noted), Earnings/(Loss) Excluding Identified Items (non-GAAP), 1 Based on ExxonMobil estimates using historical benchmarking results from Solomon Associates, CASH FLOW FROM OPERATIONS AND ASSET SALES EXCLUDING WORKING CAPITAL, Net income/(loss) including noncontrolling interests, Depreciation and depletion (includes impairments), Changes in operational working capital, excluding cash and debt, Cash Flow from Operating Activities (U.S. GAAP), Proceeds from asset sales and returns of investments, Cash Flow from Operations and Asset Sales (non-GAAP), Cash Flow from Operations and Asset Sales excluding Working Capital (non-GAAP), Additions to property, plant and equipment, Other investing activities including collection of advances, Dollars in billions (unless otherwise noted), From ExxonMobils Consolidated statement of income, Selling, general and administrative expenses, Exploration expenses, including dry holes, Non-service pension and postretirement benefit expense, ExxonMobils share of equity company expenses (non-GAAP), Total adjusted operating costs (non-GAAP), Other adjustments (includes equity company depreciation, Total cash operating expenses (cash opex) (non-GAAP), Total cash operating expenses (cash opex) excluding energy and production taxes (non-GAAP). Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. Typically reports to ceo. Toggle navigation . She is a former CFO at Xerox, ADT, Nalco and United Airlines. InterDigital, Inc. WILMINGTON, Del., April 24, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, today announced that Skip . Executive Bio. These impacts were partially offset by robust cost control and seasonally lower expenses, the absence of year-end inventory effects, and favorable volume/mix effects from advantaged growth in the Permian, Guyana, and LNG. Furman joined the company as it began its turnaround, widely viewed as one of the most successful in U.S. retail history. Based in Singapore, Andrew oversees marketing activities for EMLAPs global equity LNG portfolio. The average salary for CMO at companies like EXXON MOBIL CORP in the United States is $461,400 as of March 28, 2023, but the range typically falls between $399,100 and $561,800. Furman joins ExxonMobil from Best Buy Co. Inc., where he was chief communications and public affairs officer since 2012. , We explore for, produce and sell crude oil, natural gas and petroleum products. Register to receive free article views, selected resource downloads, and all the latest news alerts straight to your inbox. References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Upstream earnings were $6.5 billion, a decrease of $1.7 billion from the fourth quarter. ExxonMobil LNG Asia Pacific (EMLAP). Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. A reconciliation to net cash provided by operating activities for the 2022 and 2023 periods is shown on page 8. XOM | Exxon Mobil Corp. Company Profile & Executives - WSJ To learn more, visit www.exxonmobil.com and the Energy Factor . Susan Simmons joins Agents National Title Insurance as its new Southwest agency operations manager. . As the agency looks to grow beyond Texas, she will specialize her efforts in technology. Darren Woods serves as the CEO / President of ExxonMobil. The company successfully completed the ramp-up of the Beaumont Refinery expansion, demonstrating 250,000 barrels per day of crude distillation capacity and expanding its integration advantage by capitalizing on the growth of lighter crude oil from the Upstream's Permian assets. 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.. Sherri Evers was appointed vice-president, commercial and corporate development, effective January 1, 2021. Top ExxonMobil Employees Trevor Nysetvold President, ExxonMobil Investment Management Inc., and In-House Investment Manager. IRVING, Texas - ExxonMobil said today that Matt Furman has been elected vice president of public and government affairs, effective April 1, replacing Suzanne McCarron, who has elected to retire after 24 years of service. The board of directors has elected its current Deputy. Chief Marketing Officer Location: Princeton, NJ Information Security Media Group is a global education and intelligence company focused on cybersecurity. McCarron, who has been vice president since 2016, joined Mobil in 1998 as a manager in public affairs in Canada. The ExxonMobil Global LNG business team spans many countries across a number of continents. 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. Enjoy unlimited access to all of our incredible journalism, in print and digital. 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. 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. Erich Stephen - Head Of Marketing - ExxonMobil | LinkedIn Actual future results, including financial and operating performance; total capital expenditures and mix, including allocations of capital to low carbon solutions; structural earnings improvement and structural cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, plans to reach net zero Scope 1 and 2 emissions in Upstream Permian Basin unconventional operated assets by 2030, eliminating routine flaring in-line with World Bank Zero Routine Flaring, reaching near-zero methane emissions from its operations, meeting ExxonMobils emission reduction goals and plans, divestment and start-up plans, and associated project plans as well as technology efforts; timing and outcome of projects related to the capture, transportation and storage of CO2, and produced biofuels; changes in law, taxes, or regulation including environmental and tax regulations, trade sanctions, and timely granting of governmental permits and certifications; timing and outcome of hydrogen projects; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; and resource recoveries and production rates could differ materially due to a number of factors. James Moretti and the ExxonMobil executive team are rated a C by 126 employees. ExxonMobil has a long history of leadership in the petroleum and petrochemical industries. The Baton Rouge polypropylene expansion, which started up in December, delivered positive earnings and cash contribution during its first full quarter of operations. (Chief Content Officer, Chief Marketing Officer, Chief Digital Officer) the COO will communicate, implement, and support the strategies . Newsroom | ExxonMobil Our weekly Codes of ethics are all well and good but they don't tell the whole story. Shareholders with a controlling interest influence not only financial matters but can also wield great Sustainability and net-zero commitments may not be enough. The high quality of the directors, officers and employees of Exxon Mobil Corporation is the corporation's greatest strength. Earnings excluding identified items decreased from $8.8 billion to $6.6 billion. ExxonMobil uses innovation and technology to deliver energy to a growing world. He will succeed Randall Ebner, who has announced his retirement effective November 1 having spent more than four decades with the company. ExxonMobil elects Matt Furman as vice president, public and government In addition to supporting the agencys underwriters and sales associates in Texas, Oklahoma, New Mexico, and Arkansas, Simmons will be contributing to projects at the national level as a part of her role. ExxonMobil announces full-year 2022 results IRVING, Texas - January 31, 2023 - Exxon Mobil Corporation today announced fourth-quarter 2022 earnings of $12.8 billion, or $3.09 per share assuming dilution, resulting in full-year earnings of $55.7 billion, or $13.26 per share assuming dilution. This press release also includes earnings/(loss) excluding identified items (non-GAAP), which are earnings/(loss) excluding individually significant non-operational events with, typically, an absolute corporate total earnings impact of at least $250 million in a given quarter. Crenshaw received a bachelors degree in communications from Southern Methodist University and continued his education at the University of North Texas. ExxonMobil PNG (Papua New Guinea) Limited. What does a CMO do at companies like EXXON MOBIL CORP? He held a series of upstream and corporate assignments before moving to the downstream in 1996 as general manager of the Jurong refinery and petrochemical plant in Singapore. ExxonMobil announces first quarter 2023 results, Earnings Excluding Identified Items (non-GAAP), Depreciation and depletion (includes impairments), Changes in operational working capital, excluding cash and debt, Proceeds from asset sales and returns of investments, Additions to property, plant and equipment, Other investing activities including collection of advances, Selling, general and administrative expenses, Exploration expenses, including dry holes, Non-service pension and postretirement benefit expense, Other adjustments (includes equity company depreciation She received a bachelors degree from the University of Texas at Dallas and a management certificate from Southern Methodist University. Exxon Mobil Corporation officers D. W. Woods Chairman of the Board (1) N. A. Chapman Senior Vice President (1) K. A. Mikells Senior Vice President and Chief Financial Officer (1) J. P. Williams, Jr. Senior Vice President (1) D. L. Ammann Vice President J. R. Chapman Vice President, Tax and Treasurer (1) The company successfully completed the ramp-up of the Beaumont Refinery expansion, demonstrating 250,000 barrels per day of crude distillation capacity and expanding its integration advantage by capitalizing on the growth of lighter crude oil from the Upstream's Permian assets. Manager LNG Operations Mikells was previously chief financial officer at Diageo and a member of its board of directors. In this role, she was accountable for strategy, investor relations, supply chain, procurement and finance. President and General Manager Ebner was appointed assistant general counsel in 2009, and then general counsel and vice president in 2016. The main drivers were lower prices, with crude and natural gas realizations down 10% and 23%, respectively, and unfavorable unsettled derivatives mark-to-market effects of $2.0 billion, largely reflecting the absence of a positive mark-to-market impact in the prior quarter. 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Mikells joins ExxonMobil from Diageo plc, where she held the position of chief financial officer since 2015 and was a member of the board of directors. Results also benefited from the absence of year-end inventory effects and lower corporate and financing costs. Identified Items (non-GAAP), Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd), Net natural gas production available for sale, million cubic feet per day (mcfd). The company announced as of year-end 2022, it had reduced greenhouse gas emissions intensity of its operated assets by more than 10% and methane intensity by more than 50% relative to a 2016 baseline, ExxonMobil and Linde, one of the world's leading global industrial gases and engineering companies, have entered into a long-term commercial agreement in which ExxonMobil, subject to government permitting, will capture, transport, and permanently store up to 2.2 million metric tons of carbon dioxide (CO. Upstream earnings were $6.5 billion, a decrease of $1.7 billion from the fourth quarter. ExxonMobil's key executives include Darren W. Woods and 13 others. and depletion), Net income/(loss) attributable to noncontrolling interests, ExxonMobil share of income taxes of equity companies, Investments, advances and long-term receivables, Long-term obligations to equity companies, (9,000 million shares authorized, 8,019 million shares issued), (3,976 million shares at March 31, 2023, and 3,937 million shares at December 31, 2022), Additions/(Reductions) in debt with three months or less maturity, Cash dividends to ExxonMobil shareholders, Cash dividends to noncontrolling interests, Cash and cash equivalents at beginning of period, Net natural gas production available for sale, million We are growing value by increasing production from our advantaged assets to meet global demand. Quinntine Dunford Director Of Operations Quinntine Dunford serves as the Director Of Operations of ExxonMobil. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. She was the director of community affairs and youth outreach for nearly eight years. This was a decrease of $176 million versus the fourth quarter driven by lower financing costs. DuWest Realty, a Dallas-based retail brokerage firm with over 5 million square feet and 180 properties under their watch, has hired veteran leasing expert Giancarlo GC Carriero as vice president of retail brokerage.