I would say the short answer is no. Locke joined Valero in 2003 as an Audit Specialist in Valero's Internal Audit department where he earned several promotions and ultimately served as Executive Director of Internal Audit. Sure. Thank you. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. I'll go ahead and take that, Sam. 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. I wonder if I could just ask about unit depreciation trends. And so, we've got a really streamlined and a good view of the marketplace. Ms. Mikells serves on the board of Hartford Financial Services Group. 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. It keeps us on track to meet our target of $9 billion by the end of this year. At Premcor and its predecessor, Clark Refining & Marketing, he also held positions in strategic planning, mergers and acquisitions, and planning and economics. Can you characterize where you are in that process and what you think you might have still in front of you in terms of noncore asset sales? I wanted to ask a question on the downstream business and given your global reach there. And as a reminder, we would like you to limit yourselves to a single question. But that's down the road. Good morning. Mr. Berges, 46, most recently served as CFO for Cheops Technology nv/sa, an industry-leading managed service provider in secure IT infrastructures and cloud We've had our own security folks out there assessing the situation. You know, one is just improving the overall productivity across our workforce. Former EVP of Development at Epic Games will lead innovation and technology strategy for Yuga's next stage of growth. So, if economic activity is constrained, then chemical demand is constrained. I would describe those generally as looking to centralize kind of key functions across the company that have been done disparately previously. The ability of our low-carbon projects to compete successfully for capital is important if the world is going to meet its emissions aspirations. 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. While the role can vary depending on the size of a company, a CTO typically: Oversees all aspects of technology within an organization; Establishes the various roles within the IT department; Creates policies around technology infrastructure And, you know, about 40% of our shareholders are retail shareholders, so, you know, more of the moms and pops across the globe that, you know, are investors, and so we know it's important. Prior to joining Valero, Fisher worked for the law firm of Fulbright & Jaworski. Good day, everyone, and welcome to this ExxonMobil Corporation first quarter 2023 earnings call. I appreciate the answer. The role can differ from company to company but usually includes everything from: Technology vision and strategy Architecture Innovation Software development Infrastructure So, obviously, you know, if additional capacity comes on that's much lower cost and that supply overwhelms any growth in demand, then we'll see the marginal price setter change. So, our expectation as you head into the future is we'll continue to drive efficiencies and deliver structural cost savings onto the bottom line. So, you obviously have a big advantage with your refining footprint and your asset base. Proactive and consistent dialogue with stakeholders to address environmental, social and governance priorities. At Diageo, the global beverage manufacturer and marketer, she led all traditional corporate finance functions and oversaw the companys supply chain and procurement, strategy and business development, and shared services and information technology departments before her departure in June 2021. Before that he was the vice president responsible for Asia projects in ExxonMobil Development Company. And I'm just wondering where you are in that journey because, obviously, we've seen some exceptional volatility in 2022 and then earlier this year across oil and gas. And then, you know, clearly, we're looking to share our success with shareholders, and you see that through a more consistent share repurchase program and a growing dividend. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and ExxonMobilwasn't one of them! WebWe believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. High-quality, Valero Branded Stations. She joined Valero in December 2006 as Managing Counsel-Labor & Employment, overseeing legal aspects of Valeros human resources policies, discipline, litigation and immigration. That way, we can accommodate more questions from more people. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. ExxonMobil ExxonMobil announces first quarter 2023 results IRVING, Texas April 28, 2023 Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Our board is committed to ongoing engagement with our stakeholders. And so, we can now trade all along the entire length of the value chain. And obviously, we'll be doing an update when we come to the end of the year, and so we'll talk in more detail about what we see from there on a go-forward basis. In addition, our Beaumont refinery expansion reached nameplate capacity in the quarter. Chief Technology Officer Mike Seavers Joins Yuga Labs as Chief Technology Officer. But I would -- I'd make the same. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). Find your future. Chief Technology Officer Job Description and Skills. Shortly, Darren will provide opening comments and reference a few slides from this presentation. Bram holds a Bachelor of Science degree in chemical engineering from the University of Missouri-Rolla, now known as Missouri University of Science & Technology. FuelCell Energy Takes Step Toward Commercializing Carbon Energy Factor Darren W. Woods Chairman and Chief Executive Officer Kathryn A. Mikells Senior Vice President, Chief And so, I mean, we're looking -- we're working really hard on our technology portfolio in the Permian. A significant contributing factor was structural cost savings that now total approximately $7.2 billion. 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. ET. Thank you. ExxonMobil That's work that we've got to demonstrate to ourselves. Sure, and good morning, Biraj. That enabled us, obviously, to have better throughput than we would have been planning overall for the quarter. Thanks very much. He joined with predecessor Ultramar Diamond Shamrock (UDS), and in his current position with Valero is responsible for company strategy and innovation efforts. Yeah. So, thank you, everybody, for your questions today. WebExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy needs. Management Committee | ExxonMobil ExxonMobil's supply chain will consolidate supply chain activities globally. Chief Learn More, ExxonMobil(XOM 1.29%)Q12023 Earnings CallApr 28, 2023, 8:00 a.m. And so, I would just think of it as a progression, a continuation with what we believe is huge opportunity, and we're going to do that in a very thoughtful controlled pace. Well, good morning. Hi, guys. He received his Bachelor of Business Administration and Master of Science degrees in accounting from Texas Tech University, where he also played football. (210) 345-2000. I'm thinking about relative to prior cycles. Hey, good morning. So, my expectation is, you know, we've got an inventory of things going forward and would expect to see, in my mind, kind of consistent rate of being out in the market and basically finding -- seeing if we can find buyers who have a higher use for the assets than we do and, therefore, a better value and, therefore, give space. Chief Technology Officer ExxonMobil Invest better with The Motley Fool. All Rights Reserved. Good morning. Darren Woods, Chairman and Chief Executive Officer; Kathy Mikells, Senior Vice President and Chief Financial Officer; and Jennifer Driscoll, Vice President of Stock Market | FinancialContent Business Page So, if you'll allow me, I'll throw that at you. Good morning. OK. Exxon has faced pressure from investors to shake up its leadership in the executive suite and its board of directors after years of poor returns and as other global oil majors invest more heavily in the energy transition. Mikells is the first woman and first external hire to enter Exxon's uppermost echelon. Exxon Mobil Corporation officers. So, I think we're in -- that's an important context in terms of what we're seeing right now. FuelCell Energy Takes Step Toward Commercializing Carbon April 27, 2023 at 06:45 AM EDT. Learn more about applying for a job with Team Valero. Better Dividend Buy: ExxonMobil vs. Enbridge. He joined Esso Chemical Company in 1984 at the Fawley Refinery in the United Kingdom upon graduating from the University of Surrey. As you know, it's very tied to economic activity. And so, it's a little bit different than the history of the company, and so would appreciate your thoughts on it. And I have every expectation that the capacity that we brought on in Beaumont will peak -- or I know it's on the far left-hand side of the cost of supply curve, so, I feel pretty good about its competitiveness. How kind of general inflation within not just the oil field but, you know, in general, how that's affecting that? The ExxonMobil Board of Directors elected Mr. Woods as Chairman and Chief Executive Officer, effective January 1, 2017. Former EVP of Development at Epic Games will lead innovation and technology strategy for Yuga's next 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? 1LIFE HEALTHCARE INC. And certainly, from listening to some of our customers in that space, expectations of a fairly healthy air transportation or, you know, airline travel miles going forward in the summer. Darren, can I ask, in Mozambique, Total seems to be optimistic about the security on the ground. That's what the organization is going to be doing. Bhaskar Ghosh has been named chief strategy officer, effective immediately, with responsibility for the companys strategy and investments, including ventures and acquisitions. He is a Certified Internal Auditor, Certified Information Systems Auditor and Certified Fraud Examiner. The last point I'd make on refining margins, which I think is somewhat structural, typically, the marginal barrel in refining comes out of Europe. ExxonMobil ( XOM 1.28%) Q1 2023 Earnings Call. So, we're not -- we don't have to sell anything. "Kathy" Mikells joined Exxon Mobil Corporation in August 2021 as senior vice president and chief financial officer. We'll go next to Sam Margolin with Wolfe Research. And that's, I think, a commitment that I feel really strongly about. While at J.P. Morgan, Bhullar was part of the advisory teams for the spinoff of CST Brands Inc. and the formation of Valero Energy Partners LP. He joined the company from AMD, where he served as head of research and advanced development. As chief technology officer and executive vice president, Redon will be responsible for developing and delivering clean alternative fuel systems products from concept to customers in the global transportation and off-road markets while effectively implementing global integration strategies to optimize resource utilization worldwide. WebThe chief technology officer (CTO) is the individual within an organization who oversees the current technology and creates relevant policy. Also, please note that we provided supplemental information at the end of our earnings slides, which are posted on the website. It's really a question of how do we optimize and maximize the value, and that's been the focus from the very beginning and continue to be one. Mike Seavers Joins Yuga Labs as Chief Technology Officer Great. The CTO aligns services responsible for computer operations and production, FuelCell Energy Takes Step Toward Commercializing Carbon So, we obviously take the company's working capital needs into consideration as we think about our balance sheet and our cash balance. Uaru will provide an additional 250,000 barrels a day of gross capacity, with start-up targeted for 2026. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). Internally, we don't actually manage this as, hey, there's a one-time period that we're focused on as opposed to we are focused on continuing to drive structural cost savings over time. Global trading will bring together expertise from across the company in crude, products, natural gas, power, and marine-freight trading. Through investments in advantaged assets, mix improvements, and cost and operating discipline, we are delivering the structural earnings improvements outlined in our corporate plan update last December and expanding the energy supplies needed to meet growing global demand. In 2002, Mr. Chapman took over responsibility for aviation fuels marketing and, later, industrial and wholesale fuels. 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 So, you know, right now, we're not incurring a negative cost of carry on that cash balance, and that's certainly one of the things that we look at as well. Cash flow from operations totaled $16.3 billion and our net debt-to-capital ratio declined to 4%, further increasing the strength of our balance sheet while supporting shareholder distributions of $8.1 billion in the quarter, including $3.7 billion in dividends. The profits that come through trading are different quarter to quarter, but I'd say, year to year, pretty steady. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. 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. Mr. Chapman has served as a member of the board of directors and executive committee of the American Chemistry Council, the board of directors of the International Council of Chemical Associations, and the board of directors and executive committee of the National Association of Manufacturers. You've got high carbon prices in Europe. I'd say we look to take a very balanced approach as we think about shareholder distributions and getting that balance between a growing competitive dividend, right, as well as the efficiency through share repurchases. Jack Williams was elected senior vice president of Exxon Mobil Corporation in 2014. I'd say specifically and working through project concepts and designs and making sure that we're developing projects that are going to be on that left-hand side of the cost of supply curve, and bringing on production is very competitive in the marketplace to make sure that, for the long-term, we have a robust supply point there.