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In a recent filing with the U.S. Securities and Exchange Commission, Exxon Mobil Corp (NYSE:XOM), a $499.7 billion market cap energy giant with annual revenues exceeding $340 billion, announced the upcoming retirement of a key executive. According to InvestingPro data, the company maintains a GOOD financial health score and has shown strong returns over the past five years. Karen T. McKee, currently serving as the president of ExxonMobil Product Solutions Company and vice president of Exxon Mobil Corporation, will retire effective May 1, 2025.
The announcement, made on Tuesday, April 2, 2025, marks the departure of a named executive officer from the petroleum refining giant headquartered in Spring, Texas. McKee’s career trajectory and her roles within Exxon Mobil have not been detailed in the filing.
Exxon Mobil, which trades on the New York Stock Exchange under the ticker XOM, has noted that the retirement is set to occur just under a month from the announcement date. The company’s filing did not specify who will succeed McKee or how her responsibilities will be managed following her departure.
This change in the executive leadership comes amidst a period of significant attention on the energy sector, with companies like Exxon Mobil at the center of discussions around energy production, sustainability, and innovation.
The announcement is based on a press release statement and provides investors and the public with the latest developments in Exxon Mobil’s executive team. Further details on the implications of McKee’s retirement for the company’s operations or strategic direction have not been provided at this time.
In other recent news, ExxonMobil has announced several significant developments. The company is preparing to release its first-quarter earnings for 2025, with analysts from Mizuho (NYSE:MFG) predicting earnings per share of approximately $1.72, a slight increase from the previous quarter but a 17% decline from the same period last year. Meanwhile, Mizuho has adjusted its price target for ExxonMobil to $129, down from $131, while maintaining a Neutral rating. Additionally, ExxonMobil has announced a leadership transition, with Matt Crocker set to replace Karen T. McKee as president of ExxonMobil Product Solutions Company upon her retirement on May 1, 2025.
ExxonMobil has also entered into an underwriting agreement for the issuance of $192.8 million in Floating Rate Notes due 2075, a move that aligns with strategic efforts to secure long-term financing. In the UK, ExxonMobil plans to cut approximately 250 jobs as it consolidates operations, including the closure of its Leatherhead office by 2026. Despite these changes, the company is expanding its London trading hub and investing in its Fawley Petrochemical Complex. Finally, ExxonMobil is set to participate in discussions with President Donald Trump, alongside other U.S. oil producers, to address tariffs, trade, and liquefied natural gas exports, facilitated by the American Petroleum Institute.
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