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Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.
The Brazilian major’s business and management plan focuses on financial planning and the pursuit of profitability as the company continues working to reduce its debt.
Following Paul Horne’s retirement in March, Dan Westcott, currently president and CFO, will become Legacy’s next CEO. Meanwhile, COO Kyle M. Hammond will be adding the president role.