Rex Tillerson announces separation from Exxon Mobile

Per rules and regulations regarding rumored conflicts of interests on behalf of Tillerson. Tillerson, the longtime CEO of Exxon Mobile announced on 31 December that he would effectively be withdrawing from oil behemoth all together.

The move comes amid increased pressure on Tillerson to resign from his role if he is indeed confirmed as Secretary of State.    Although walking away, he will still take away about $240 million in stock options that he is rightfully entitled to.  The money and the stock options will be placed in an independently managed trust according to Tillerson and Exxon Mobile.

All in all, he has about 611,000 shares in the company worth millions on top of stock options.  Despite such, he will lose about $7m and then a little more due to changing prices and stock valuations.  He was rightfully entitled to a reported 2m more shares that would have earned him upwards of $200m but that didn’t quite go down so well.

 

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