Environmentalists See Hope in Exxon CEO Change

Environmental groups expressed guarded optimism Thursday that the management succession at Exxon Mobil Corp. may lead the oil company to taking a proactive role in protecting the planet.

But the fact that the heir apparent has the full support of the financial community, which expects him to run the company in the same way as his predecessor, has some critics of Exxon dismissing the chances of any real change.

Exxon, the world’s largest public oil company, said Thursday CEO Lee Raymond would retire at year-end. Environmentalists revile the no-nonsense Raymond for his refusal to compromise on their issues, and for his stances minimizing the effects of global warming and the benefits of renewable energy.

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