Exxon Mobil CEO Raymond to Retire

Exxon Mobil Corp. said Thursday that Lee Raymond, its chairman and chief executive for the past 12 years, will retire at the end of this year.

The board of directors of the world’s largest publicly traded oil company is expected to name company President Rex W. Tillerson, 53, as Raymond’s successor in both posts. No board meeting has been scheduled yet. The change is part of the board’s succession plan developed years ago, the company said.

Forbes