Exxon Mobil Corp. recruited a company outsider for the first time to join the CEO's inner circle of managers, a move that comes just weeks after the oil giant suffered a stunning setback at the hands of a tiny activist investor.

Kathryn Mikells will join Exxon on August 9 as CFO from Diageo Plc, where she held the same role and was also a director, according to a statement Monday. Mikells, 55, will be the first woman among the ranks of senior vice presidents who share day-to-day management duties with CEO Darren Woods, and the first executive to hold such a high position without a background in oil, natural gas, or chemicals.

The decision to appoint Mikells, whose previous experience included stints at Xerox Corp., ADT, and United Airlines Holdings Inc., comes after Engine No. 1 took control of 25 percent of Exxon's board last month. Though the activist investor urged the company to address climate concerns and improve its financial performance, it didn't target the CFO role or call for more diversity among senior executives. Mikells will replace retiring senior vice president Andrew Swiger.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.