Exxon Mobil's CEO, Chairman to face fire

Tuesday, May 27th 2008, 2:58 pm
By: News 9

Associated Press

HOUSTON -- It's likely to be a raucous shareholder meeting for Exxon Mobil in Dallas tomorrow.

Chairman and CEO Rex Tillerson will have a fight on his hands to keep the two top jobs at the world's biggest publicly traded oil company.

Members of the Rockefeller family and other shareholders are pushing to separate the roles.

Rockefeller family members and others have said they're concerned Irving-based Exxon Mobil is too focused on short-term gains from soaring oil prices. They think the company should do more to invest in cleaner technology for the future. Separating the leadership roles, they argue, would better position the company for challenges to come.

Tillerson has served in both roles since 2006.

He received a compensation package last year valued at about $21.7 million.

John D. Rockefeller is the founder of Exxon Mobil predecessor Standard Oil.