TNHarley
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- Sep 27, 2012
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Rex Tillerson Cuts Ties With Exxon Mobil In Advance Of Confirmation Hearings
Im not too excited about this guy but I am glad he is committed to this.Rex Tillerson, President-elect Donald Trump's nominee for U.S. secretary of state, is severing his ties with Exxon Mobil. The former chairman and CEO is in line to receive a $180 million retirement package.
Tillerson, who has spent his entire career at Exxon, would have reached mandatory retirement age in March. The company announced that it will pay him in cash for the more than 2 million shares he would have received over the next 10 years and that the money will be transferred to an independently managed trust.
If confirmed as secretary of state, Tillerson also has committed to sell the more than 600,000 Exxon shares he currently owns. The deal means he will give up about $7 million dollars, compared with what he would have received had he retired in March as planned.