Dan Ammann to Lead Exxon's Oil and Gas Business

HOUSTON (Reuters) – Exxon Mobil (NYSE:XOM) announced on Tuesday that Dan Ammann, the former president of General Motors (NYSE:GM), will take charge of its largest and most profitable business starting early next year.

Ammann, who joined Exxon two years ago to lead the clean energy division called Low Carbon Solutions, will succeed 34-year Exxon veteran Liam Mallon as the president of Exxon's oil and gas operations effective February 1, 2025.

The appointment of Ammann, alongside Barry Engle—another former GM executive as president of Low Carbon Solutions—highlights Exxon's ongoing restructuring of its leadership with external hires.

Energy analyst Paul Sankey of Sankey Research commented, "It certainly is a new management model for Exxon Mobil, which really started post-activist Engine 1's board shakeup," referencing an activist investor's 2021 proxy fight that secured three board seats for Engine 1.

In his new role overseeing Exxon's Upstream business unit, Ammann will manage a sector responsible for more than two-thirds of Exxon's operating profit this year.

Engle, who started as Ammann's deputy in September, brings a wealth of experience from his time in the automotive industry at General Motors until 2020. The Low Carbon Solutions unit aims to assist Exxon and its industrial clients in reducing carbon emissions from their operations.

Exxon CEO Darren Woods remarked, "These appointments continue the company’s approach of leveraging the diverse skills and experiences of a very accomplished executive team to bring fresh perspectives and approaches to each of our exceptionally talented organizations."

In 2021, Exxon appointed former Diageo (LON:DGE) finance executive Kathryn Mikells as CFO.