Dan Ammann Named Head of Exxon's Oil Division

Dan Ammann, formerly the president of General Motors, has been appointed as the head of Exxon Mobil's upstream oil and gas business, effective February 1, 2025, succeeding Liam Mallon, who is retiring after 34 years at the company. Ammann's transition from leading Exxon's Low Carbon Solutions to the oil and gas division reflects CEO Darren Woods' strategy of modernizing the company's leadership by incorporating professionals from outside the traditional oil sector. This appointment is part of Exxon's broader effort to adapt to market demands for both increased energy supply and reduced greenhouse gas emissions. Alongside Ammann, Barry Engle, another former GM executive, will take the helm of Exxon's Low Carbon Solutions division. Analysts view these changes as a significant shift in Exxon's management style, particularly following the influence of activist investors. Exxon's recent earnings have exceeded expectations due to strong production growth, particularly in Guyana and the Permian Basin.