Thanks for taking the question. Exxon Mobil adds first woman top-tier executive with external CFO Morford was chief legal and compliance officer for Cardinal Health between 2008 and 2019. He was earlier associated with Nissan Motor Corporation, Collabera, Safexpress Private Limited, IBM and Cognizant Technology. And then in conjunction with that, the COVID impacts took a while for it to unwind through what I'd say is the global economy, which impacted chemical demand. Additional information on the risks and uncertainties that apply to any forward-looking statements are listed in our most recent Form 10-Ks and 10-Qs available on our website for investors. "Kathy" Mikells joined Exxon Mobil Corporation in August 2021 as senior vice president and chief financial officer. Mark Schmeltekopf serves as Senior Vice President and Chief Accounting Officer, with responsibility for the companys accounting, budgeting, forecasting and profit-planning procedures, as well as financial statements and reporting, and corporate tax functions. What I would say is as you look at where we're at today, I mean, this is seasonally a low point as you head into second quarter then third quarter and driving season, when you tend to see supply and demand tighten up and margins improve. Thanks for joining us today. Greg Bram serves as corporate Vice President-Supply Chain Optimization, responsible for all economic analysis pertaining to Valero's refining operations. Today's call is being recorded. And, you know, if there's any thought around kind of the absolute level of cash today and really what's optimal. So, I feel good about the progress that we've got there -- we're making there. Chief Technology Officer She is a native of Chicago. He previously served as Senior Vice President-Supply, International Operations and Systems Optimization; and Vice President-Crude, Feedstock, Supply and Trading. Good morning. Mr. Corson started his career with ExxonMobil in 1983 in New Orleans, Louisiana, and has held various technical, operations, commercial and managerial assignments around the world. Darren W. Woods Chairman and Chief Executive Officer Kathryn A. Mikells Senior Vice President, Chief Financial Officer Neil A. Chapman Senior Vice President Jack P. Williams Senior Vice President Angela F. Braly Director Steven A. Kandarian Director Gregory J. Goff Director Sure, Doug. Thanks. ExxonMobil is moving its headquarters to the Houston area as part of a major reorganization that will put its engineering and technology support staff in one unit. Darren Woods, chief executive officer of ExxonMobil Corp., was chipper as he bandied with industry analysts on Jan. 31 about his companys poor 2019 performance. And frankly, that's how you need to think about this business. Jennifer Driscoll -- Vice President, Investor Relations. You know, it's important for us to have a really strong balance sheet in order to ensure that, you know, we stick to our capital allocation priorities through the cycle, right? Darren Woods, Chairman and Chief Executive Officer; Kathy Mikells, Senior Vice President and Chief Financial Officer; and Jennifer Driscoll, Vice President of And at this time, I'd like to turn the call over to the vice president of investor relations, Mrs. Jennifer Driscoll. I know I'm kind of asking three questions in one, but they're all focused right around the 7 to 9. So, I think -- you know, my view is we're going to see the typical push-up in the summer and see margins rise. I think, you know, these -- like all of the businesses that we're in, the underlying drivers of the chemical margins tend to be the commodity chemicals that are driven by supply demand and the balances or imbalances in the supply demand. Yeah. Hi, guys. Guyana, we're pleased to announce that we reached final investment decisions for Uaru, fifth offshore project, which will bring on even more production from this low-cost, low-carbon intensity resource. We'll go next to Ryan Todd with Piper Sandler. Now let's move to Q&A. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. Private Company. ExxonMobil's average debt rate is about 3%. I mean, our capital allocation approach, I think, has been very consistent and very clear. Stock Market | FinancialContent Business Page We'll go next to John Royall with J.P. Morgan. But generally speaking, that happens. Coinbase chief legal officer Paul Grewal on company's heated And what we just announced is taking the trading organizations that today are somewhat dispersed through the organization and consolidating those into one centralized trading organization for the whole of the corporation. That's been our history. Our diverse portfolio of advantaged businesses, improvements in mix, structural cost savings, excellence in execution are driving industry-leading earnings, cash flow, and shareholder value. And then just the last comment, like does the program end? Prior to joining Valero, Reinhart served as a Partner in the law firm of Bracewell & Giuliani LLP, where she defended employers in all phases of employment law. That led to a very different development approach trying to work across -- you know, and this cube design, work across all the benches simultaneously to maximize ultimate recovery. That's been a real focus of that organization. Dec 5 (Reuters) - Exxon Mobil Corp (XOM.N) is raising the annual base salaries of its top boss and other executives for next year, the largest U.S. oil company said on Monday. Sure, and good morning, Biraj. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. WebExxonMobil. While Exxon has female leaders, the top tier management committee, comprised of the CEO and three to four senior vice presidents has remained all-male according to a Reuters' review of SEC filings dating to 2001. In 2006, Mr. Chapman served as executive assistant to the chairman of Exxon Mobil Corporation and in 2007 as president of ExxonMobil Global Services Company. From 2007-2009, he was the vice president of engineering for ExxonMobil Production Company. Chief Technology Officer We'll go next to Roger Read with Wells Fargo. ExxonMobil to Release First Quarter 2023 Financial Results ExxonMobil With respect to that, we've had good progress with the government in PNG in terms of getting the agreements that we need signed and helping us move forward. In 2007 he was appointed acting deputy attorney general by then-president George W Bush. So, you know, that's a big part of our overall strategy and mixing up in both the chemical business and across our product solutions business, and we feel very good about the results that's bringing. But that's an important asset as you move into the bottom of the cycle, particularly when you're trying to maintain the consistent investment levels and continue to advance the projects in the portfolio. And as a reminder, we would like you to limit yourselves to a single question. Have we turned a corner in the chemicals environment, and can you talk about how you see the trajectory of margins in that business over the course of 2023? I'll go ahead and take that, Sam. Thanks. Learn more about applying for a job with Team Valero. First, giant hedge fund D.E. We just gave the trading organizations within the company some different objective statements, and they've done really well in responding to that, bringing value to the bottom line. Hebegan his career with Valero in 1999. I think we've said in the past that as you look at production, the Permian is going to be a little bit lumpy, and so I wouldn't take any one data point, any one quarter's numbers and extrapolate from there. So, if economic activity is constrained, then chemical demand is constrained. Incentives included in the Inflation Reduction Act are a positive step forward, although permitting and other regulatory improvements are still needed. Yeah. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. That's work that we've got to demonstrate to ourselves. The Foundation of Our Success. Analog Devices Appoints Alan Lee as Chief Technology Officer FuelCell Energy Takes Step Toward Commercializing Carbon I would say our assessment is very consistent with Total's assessment. And I think that's what you saw in the first quarter, and then these more macro impacts, we'll see how that plays out as we go forward. Cost basis and return based on previous market day close. You typically see early in the year a lot of refining turnarounds, which take a lot of capacity offline in that lower-demand season. With over 100 major cyberattacks reported in the United States since the start of the year, including well-publicized ransomware attacks on an American oil pipeline and an international beef supplier, the public is coming to understand how much cybersecurity can affect their everyday lives. She joined Valero in December 2006 as Managing Counsel-Labor & Employment, overseeing legal aspects of Valeros human resources policies, discipline, litigation and immigration. Aug. 30, 2022, Who we are You know, we talked a little bit in our presentation about the fact that our maintenance activities, we had a pretty heavy turnaround quarter, and those maintenance activities really came in at the first quartile, so much better than what we had planned for a shorter duration. I wanted to ask about the results you're seeing there. The Permian is doing well. WebSenior Vice President, Chief Safety and Security Officer and Chief Technology Officer @ ABS Education Columbia University in the City of New York Bachelor's degree (Human Resources Management and Services) Tyson David Email Address Found 2 email address listings: @fairpoint.net @exxonmobil.com Tyson David Phone Number Found 4 phone I just wanted to follow up on trading because there's been various press reports about Exxon wanting to build up its capabilities in asset optimization and trading. And the final point I'd make to build on what Kathy said is we have seen, with all these organizational changes, as our people have come together in the new organizations and focused on the objectives of those organization and what the corporation is trying to achieve, we find a lot more opportunities than we could envision even going into the changes. I don't, frankly, see that changing in the short term. (210) 345-2000. During his more than 20 years with the DoJ, Morford had assignments as US attorney in Michigan and Tennessee and as first assistant US attorney in Ohio. ExxonMobil Thanks for taking my question. Also, please remain on the line in case we need to ask any clarifying questions. Throughout his career with Valero and UDS, Lashway has held critical leadership positions in the commercial and corporate development groups, and has been an integral part of key transportation and logistics projects, including the initial public offering of Shamrock Logistics L.P., the predecessor to NuStar, and its acquisition of Kaneb Pipe Line Partners L.P. Julia Rendon Reinhart serves as Senior Vice President and Chief Human Resources Officer, responsible for Valeros human resources operations companywide as well as global security, facilities and administrative services. He received his Bachelor of Business Administration and Master of Science degrees in accounting from Texas Tech University, where he also played football. Schmeltekopf joined Valero in 2003 as Executive Director of External Reporting. Also, please note that we provided supplemental information at the end of our earnings slides, which are posted on the website. If you look overall at where our number of -- I'd say different programs are driving savings for us. Thank you. And then just recently, announcing the combination of our supply chain across the organization and setting up a global business services organization and combining our global trading capabilities across the company. Before that he was the vice president responsible for Asia projects in ExxonMobil Development Company. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Global business solutions will centralize a majority of our finance and procurement operations, enabling us to deliver simplified corporatewide processes. Learn More, ExxonMobil(XOM 1.29%)Q12023 Earnings CallApr 28, 2023, 8:00 a.m. WebThe chief technology officer (CTO) is the individual within an organization who oversees the current technology and creates relevant policy. Chief Technology Officer That's, I think, really what's going to underpin where we focus our attention. Apr 24 2023 - Wilmington, MA. ExxonMobil Here with me are Darren Woods, chairman and chief executive officer; and Kathy Mikells, senior vice president and chief financial officer. April 27, 2023 at 06:45 AM EDT. He then served as Vice President-Investor and Corporate Communications, President-Europe, and Vice President-Investor Relations, Market Analysis & Strategic Planning, before assuming his current position. The only other thing I'd add is, you know, we obviously brought on our Baton Rouge chemical expansion project late in the fourth quarter. Apr 28, 2023, 8:00 a.m. Can you give us an update where you are in Mozambique and also in the Papua New Guinea LNG? You know, we always use the phrase the world is round. Copyright 2003-2023 Exxon Mobil Corporation. WebChief Technology Officer @ ExxonMobil; Executive Agent @ Firmdrex , , , , Not the Asger Michael you were looking for? Find contact details for 700 million professionals. That's very helpful. That way, we can accommodate more questions from more people. Gorder earned a bachelors degree in business administration from the University of Missouri-St. Louis and a masters degree in business administration from Our Lady of the Lake University. And now, please turn to Slide 3 for Darren's remarks. Former EVP of Development at Epic Games will lead innovation and technology strategy for Yuga's next Today's call is being recorded. Thanks for joining us today. Quite a dynamic market. From 2011 to 2021, Eric led the implementation of these practices amongst Valero's refining network, helping the business achieve first quartile performance across Solomon energy industry benchmarking metrics. He joined with predecessor Ultramar Diamond Shamrock (UDS), and in his current position with Valero is responsible for company strategy and innovation efforts. ET. In 2002, Mr. Chapman took over responsibility for aviation fuels marketing and, later, industrial and wholesale fuels. XOM earnings call for the period ending March 31, 2023. This article is a transcript of this conference call produced for The Motley Fool. Sure. And, you know, we obviously have an advantage in a very heavy U.S. Gulf Coast footprint kind of relative to the global footprint, and that helped us in the sequential improvement in margin. Energy Factor So, on the Beaumont expansion, can you talk about how the capacity is being absorbed in the market?