Exxon Mobil Corp. appointed Dan Ammann, former General Motors president, to lead the Texas-based oil major’s lower-emissions business.
“We welcome Dan to Exxon Mobil and will use his knowledge and experience to continue to build our low carbon solutions business,” Darren Woods, CEO and chairman of Exxon Mobil, commented in a company release on March 22.
ExxonMobil Low Carbon Solutions is focused on commercializing low-emission business opportunities in carbon capture and storage, hydrogen and low-emission fuels, by leveraging the skills, knowledge and scale of Exxon Mobil. The low carbon solutions business was created in 2021 to commercialize Exxon Mobil’s extensive low-emission portfolio with the objective to create long-term shareholder value and support global emission-reduction efforts.
Ammann, who will serve as president of ExxonMobil Low Carbon Solutions effective May 1, joins the company from Cruise, a GM majority-owned subsidiary focused on self-driving cars. He was named CEO of Cruise in 2018 and appointed president of GM in 2014 but had left the Detroit automaker in December.
According to a Reuters report, people familiar with the matter said he was dismissed after disagreeing with GM over when to take Cruise public. GM CEO Mary Barra has downplayed the need for a quick Cruise public offering, and the carmaker has repeatedly stressed the importance of that business to its overall operations, Reuters reported on March 22.
Previously, Ammann served as GM’s CFO and joined GM as treasurer in 2010. He helped lead GM's IPO following the company’s 2009 restructuring. He began his career as an investment banker, starting at Credit Suisse First Boston in 1994 and moving to Morgan Stanley in 1999, where he was named a managing director in 2005.
Ammann replaces Joe Blommaert, president of ExxonMobil Low Carbon Solutions since its creation in 2021. Blommaert has elected to retire after 35 years of service, according to the Exxon Mobil release.
“I thank Joe for his contributions to the company’s success and the significant progress made in developing our lower-emissions business. I wish Joe all the best in retirement,” Woods added in the release.
Blommaert joined ExxonMobil Chemical in 1988 as a process engineer at the Rozenburg chemical plant in the Netherlands. Following assignments in the Netherlands, Belgium and the U.S., Blommaert was appointed regional director for Europe and Asia Pacific chemical operations in 2014 and became senior vice president of global operations for the chemical business in 2019.
This article includes reporting by Reuters.
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