Trump's State pick to get hearing next week

Katie RamirezJan 05, 2017

Cardin said they had discussed issues including Russian Federation and Tillerson's view of sanctions, which he expects will be a focus of Tillerson's confirmation hearing.

Exxon Mobil CEO Rex Tillerson is gearing up for his big promotion to Donald Trump's Secretary of State, and in doing so, has stepped down from his CEO position and accepted a massive retirement package.

He'll no longer be entitled to more than $4.1 million in cash bonuses that he was set to receive over the next three years - or medical, dental and other benefits from Exxon.

2 analysts rated the stock of Exxon Mobil Corporation (NYSE:XOM) as "STRONG BUY", 5 rated as "BUY" and 12 issued a "HOLD" rating.

The company says the net effect of the agreement would be for Tillerson to give up about $7 million in compensation he'd otherwise have coming to him. The board of Halliburton allowed early retirement to Mr. Cheney with a departure package of roughly $20 million.

The value of the fund would be reduced by $3 million to comply with the guidance of federal ethics regulators, the company said.

By extricating itself from Tillerson, Exxon hopes to alleviate concerns regarding conflicts of interest while Tillerson serves in the Department of State.

Exxon Mobil announced that Darren Woods would be the next chief executive on Sunday.

President-elect Donald Trump's nominee for secretary of state, Rex Tillerson, was spotted on Tuesday shopping for groceries at a Washington, D.C., Safeway.

The trust would also include forfeiture rules that would prohibit Tillerson from working in the oil or gas industry during the 10-year payout period.

Payments to Tillerson from the trust would be subject to the same 10-year schedule that the cancelled awards would have if they had stayed in place.

Sentinel Trust Co Lba reduced its stake in Exxon Mobil Corporation by 0.48% during the most recent quarter end. As Exxon Mobil CEO, he was opposed to US sanctions on Russia, which got in the way of his company's project with Russian energy company Rosneft to drill in the Arctic.

During Exxon's 2014 shareholders meeting, Tillerson said Exxon "does not support sanctions" because the firm believes they are usually "not effective".

Senate Foreign Relations Committee Ranking Member Sen.

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