Exxon Mobil Corp. chief executive Lee Raymond will retire at the end of 2005, ending a 12-year reign in which he built a Standard Oil Trust successor into the world's largest publicly traded company. President Rex Tillerson, 53, probably will succeed the 66-year-old Raymond as chairman and chief executive, Irving, Texas- based Exxon Mobil said yesterday in a statement.
At the board's request, Raymond became the first chief since 1933 to work past the company's mandatory retirement age of 65. Exxon Mobil's cash balance more than tripled in the past two years to $30 billion, the Boston Globe report.
Raymond led Exxon Corp.'s 1999 purchase of Mobil Corp. for $85.2 billion, the biggest oil acquisition in history. Exxon Mobil last week posted the highest second-quarter profit in its 123-year existence and had the most revenue on record for any public company.
In response to the unlawful December 1 arrest and detention of Chinese tech giant Huawei's chief financial officer Sabrina Meng Wanzhou by Canadian authorities in Vancouver at the behest of the Trump regime, facing possible unacceptable extradition to the US, Beijing warned its high-tech personnel last month against traveling to America unless it's essential.
Rescuers found the pilot of one of the two Su-34 fighters that had collided in midair in the Far East on January 18