Exxon hires ex-GM exec Dan Ammann to lead energy transition business

HOUSTON — Exxon Mobil Corp. on Tuesday appointed Dan Ammann, former president of automaker Common Motors, to steer the oil firm’s power transition enterprise efficient Could 1.

The appointment alerts a shift in Exxon to rent outsiders for senior roles after activist traders received three seats final yr on the US producer’s board. Exxon final yr employed Kathryn Mikells from drinks maker Diageo Plc as its finance chief.

Ammann replaces Joe Blommaert as chief of its Low Carbon Options unit, Exxon stated on Tuesday. Blommaert will retire after 35 years on the oil producer.

In December, Ammann abruptly left the Detroit automaker the place he was chief government of its self-driving automotive subsidiary Cruise. Previous to operating Cruise, Ammann served because the Detroit firm’s president and chief monetary officer, and was a Wall Avenue banker with Morgan Stanley earlier than that.

Folks accustomed to the matter stated he was dismissed after disagreeing with GM over when to take Cruise public. GM Chief Govt Mary Barra has downplayed the necessity for a fast Cruise public providing, and the carmaker has repeatedly confused the significance of that enterprise to its general operations.

Ammann couldn’t instantly be reached to remark.

He joined GM as treasurer in 2010 and helped lead the corporate’s preliminary public providing following its 2009 restructuring.

At Exxon, he’ll lead its power transition enterprise, which oversees efforts to generate new income from carbon sequestration applied sciences and hydrogen manufacturing. Exxon put the unit on the identical footing as its different operations as a part of restructuring disclosed in January.

“We welcome Dan to ExxonMobil and can use his information and expertise to proceed to construct our Low Carbon Options enterprise,” stated Exxon Chief Govt Darren Woods.

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