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The board of directors of Exxon Mobil Corp. reported that lead independent director Kenneth C. Frazier has announced his intention not to stand for re-election to the board at the annual meeting of shareholders on May 25.
Joseph (Jay) L. Hooley, former chairman and CEO of State Street Corp. and ExxonMobil director since 2020, has been selected by the independent directors to serve as lead director, effective after the annual meeting.
Frazier, executive chairman and former chairman and CEO at Merck & Co., Inc., will remain as independent lead director until the annual meeting. He was appointed to the role in 2020, and has been a member of the board since 2009. The role of the lead director has broad oversight responsibilities that were strengthened under Frazier's leadership.
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