Dan Ammann, the former president of General Motors, has been appointed head of Exxon’s oil and gas business, after serving as head of its low-carbon solutions for two years. The appointment of Ammann follows the retirement of the current president of the Upstream division, Liam M. Mallon, which will take effect at the start of February.
The company booked strong production growth from Guyana and Permian assets including Pioneer assets in the first full quarter of Pioneer integration following the merger. Earnings in the energy products division, which includes refining and sales, slumped year to date to September, “due to significantly weaker industry refining margins, which declined from historically high levels as supply from industry capacity additions outpaced record global demand,” Exxon said in the release last month.