That's, I think, really what's going to underpin where we focus our attention. Thanks for taking my question. The Foundation of Our Success. I don't, frankly, see that changing in the short term. With over 100 major cyberattacks reported in the United States since the start of the year, including well-publicized ransomware attacks on an American oil pipeline and an international beef supplier, the public is coming to understand how much cybersecurity can affect their everyday lives. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Bram holds a Bachelor of Science degree in chemical engineering from the University of Missouri-Rolla, now known as Missouri University of Science & Technology. Exxon has faced pressure from investors to shake up its leadership in the executive suite and its board of directors after years of poor returns and as other global oil majors invest more heavily in the energy transition. Mikells is the first woman and first external hire to enter Exxon's uppermost echelon. I mean, our capital allocation approach, I think, has been very consistent and very clear. By: Materialise via Business Wire. It's got to be one where what ExxonMobil brings to the table actually increases what either company would do independent of one another. I'd say we look to take a very balanced approach as we think about shareholder distributions and getting that balance between a growing competitive dividend, right, as well as the efficiency through share repurchases. ExxonMobil (XOM) Q1 2023 Earnings Call Transcript I suspect -- expect we'll still see some of that to come on here in the short term. Sure. Exxon Mobil And I'm wondering if you see that dynamic as kind of balanced where cracks in Asia are zero, but margins in the U.S. are still 20, and that's kind of representative of the market structure that we're in, or do you expect the weakness in Asia margins to kind of force U.S. refining margins lower in the near term? He is a Certified Internal Auditor, Certified Information Systems Auditor and Certified Fraud Examiner. We don't see a lot of difference between what the conclusions they're coming up with and our conclusions. Jennifer Driscoll -- Vice President, Investor Relations. Throughout his career with Valero and UDS, Lashway has held critical leadership positions in the commercial and corporate development groups, and has been an integral part of key transportation and logistics projects, including the initial public offering of Shamrock Logistics L.P., the predecessor to NuStar, and its acquisition of Kaneb Pipe Line Partners L.P. Julia Rendon Reinhart serves as Senior Vice President and Chief Human Resources Officer, responsible for Valeros human resources operations companywide as well as global security, facilities and administrative services. Exxon Mobil Corporation officers. I would just be curious on your views on what you're seeing in terms of product demand and then how do you think it's going to manifest itself in -- through the refining system from a margin perspective over the next couple of years? That's what you've seen us do. Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer Before coming to ExxonMobil, Ms. Mikells spent six years as chief financial officer for London-based Diageo, Plc. So, just wondering if you could remind us, you know, sort of on a mid-cycle basis how to think about, you know, and how the board thinks about dividend growth because, certainly, you've de-risked some of those foundational earnings. Darren Woods, ExxonMobil chairman and chief executive officer, explained it this way: Our transformed business structure enables us to more fully leverage the corporations scale, integration, technology advantages, and the skills and capabilities of our talented workforce, to better serve our customers. While Exxon has female leaders, the top tier management committee, comprised of the CEO and three to four senior vice presidents has remained all-male according to a Reuters' review of SEC filings dating to 2001. So, I think, you know, that's kind of the things to watch. This is not about going out and taking speculative positions. Thanks for taking my question. Our management team Thanks for taking my question. ExxonMobil (XOM) Q1 2023 Earnings Call Transcript But I wonder if the direction we're going with cash, you know, even net of shareholder returns that are continuing to increase and that are well within sort of your targets, you know, if we're kind of getting beyond fortress and into something even bigger than that. We believe that this technology will address one of the largest environmental challenges of today, CO 2 emissions from industrial and commercial exhaust streams and power generation, said Jason Few, President and Chief Executive Officer of FuelCell Energy. And so, that -- the Europe set is the price setter for global markets ex-transportation. A couple of points, I think, as we're looking at the refining margin. And, you know, we obviously have an advantage in a very heavy U.S. Gulf Coast footprint kind of relative to the global footprint, and that helped us in the sequential improvement in margin. We'll go next to Alastair Syme with Citi. You know, you all know, we, several years ago, had a strategy on maximizing oil recovery versus initial production rates. The ability of our low-carbon projects to compete successfully for capital is important if the world is going to meet its emissions aspirations. Mr. Woods joined Exxon Company International in 1992 as a planning analyst in Florham Park, New Jersey. You're adding base capacity downstream. IRVING, Texas-- ( BUSINESS WIRE )--Exxon Mobil Corporation said today that Lawrence Larry W. Kellner and John D. Harris II have joined its board of directors. If we see similar levels of exports as we saw last year, my expectation was that'll put additional upward pressure on the margin. The California Public Employees Retirement System is recruiting for a chief technology officer (Career Executive Assignment) to direct and oversee enterprise technology infrastructure services across all of CalPERS retirement, health and investment programs. We're seeing reports that Asian refiners are contemplating run cuts while margins in the U.S. are still really robust. The -- this is really around trading on the value created through the transformation of molecules and developing products that people want and then moving those products around the world. And so, we justified that project on a transportation differential and felt that that provided a reasonable return, with the expectation that, on top of that, we would see the value of the additional fuels and the higher-value products that we were producing. As CFO, Ms. Mikells leads the companys finance functions, including treasury, tax, and audit as well as the companys strategic planning, global services, and investor relations functions. And so, even though the market has been tough, that project actually had a positive earnings and cash flow contribution for us in the quarter. I -- you know, it amazes me that -- the amount of questions that come up from this space. We focused -- I'll remind you, on the Beaumont expansion, this is something that we began planning and developing many, many years ago, and it was really built on the Permian production and the changes and transportation differentials by bringing crude into the front end of the Beaumont refinery and making the intermediate products to fill our conversion capacity and backing out imports of intermediates and saving the transportation of those intermediates that are typically coming from afar. CIO. And then I'll just circle back, you asked a little bit about inflation. And then, you know, clearly, we're looking to share our success with shareholders, and you see that through a more consistent share repurchase program and a growing dividend. Locke joined Valero in 2003 as an Audit Specialist in Valero's Internal Audit department where he earned several promotions and ultimately served as Executive Director of Internal Audit. With that, operator, please open up the line for our first question. But generally speaking, that happens. But in 2021, Exxon Mobil Chairman and CEO Darren Woods faced a rebellion from his board. Rich Walsh serves as Senior Vice President and General Counsel. Look, these -- we all know these markets are volatile that they move up and down. In 2014, Mr. Chapman was awarded an honorary doctorate by his alma mater, the University of Surrey. Aug. 30, 2022, Who we are Energy Factor We do see some promising signs, but we'll have to see how that China demand and their economic activity picks up. With that, let me turn the call over to Jennifer. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Roger Read -- Wells Fargo Securities -- Analyst. I think that that completes our queue. My sense of things is, you know, if you go look back last year and the export levels coming out of China and the balances in Asia, that stayed reasonably tight. Combining our engineering and research kind of groups collectively together. Chief Technology Officer Materialise NV (NASDAQ: MTLS), a leading provider of Fisher began his career with Valero in 1997, when he joined Valeros Corporate Law Department. Kathryn A. Learn More, ExxonMobil(XOM 1.29%)Q12023 Earnings CallApr 28, 2023, 8:00 a.m. The ExxonMobil Board of Directors elected Mr. Woods as Chairman and Chief Executive Officer, effective January 1, 2017. We will post the transcript of our Q&A session on our new investor website in a few days. So, we feel really good about where we're at today on our balance sheet. Alan Lee was named the new chief technology officer at Wilmington's Analog Devices. Thanks. Koen Berges to Succeed Johan Albrecht. Thank you, Darren. I'll give you this one plus one. In 2005, Mr. Woods was appointed vice president of ExxonMobil Chemical Company in Houston, Texas, where he managed global specialty-chemical businesses. Is it a Top Stock to Buy? We just gave the trading organizations within the company some different objective statements, and they've done really well in responding to that, bringing value to the bottom line. Chief Technology Officer And at this time, I'd like to turn the call over to the vice president of investor relations, Mrs. Jennifer Driscoll. In this role, Alan will identify and work to advance the next-generation technologies that will disrupt and shape the semiconductor industry and its markets. I think we've said in the past that as you look at production, the Permian is going to be a little bit lumpy, and so I wouldn't take any one data point, any one quarter's numbers and extrapolate from there. We care about health and safety, and protecting our employees and neighbors. Their exports have been higher in the first quarter, but, you know, it depends to see how those play out going forward. There are always short-term disruptions. Mr. Williams, a native of Mansfield, Ohio, is a member of the Society of Petroleum Engineers and a member of the Board of Visitors for the Vanderbilt School of Engineering. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. If I put that to the side, the company has run about, I'll call it, 19 billion, 20 billion annually in depreciation and amortization. Sure. The Motley Fool has no position in any of the stocks mentioned. Prior to Bracewell, she practiced law at Troutman Sanders in Atlanta, with a short secondment to CNN as in-house labor and employment counsel, and the State of Georgia as an Assistant State Attorney General. And I'm just wondering where you are in that journey because, obviously, we've seen some exceptional volatility in 2022 and then earlier this year across oil and gas. Thanks for the question. Mr. Corson started his career with ExxonMobil in 1983 in New Orleans, Louisiana, and has held various technical, operations, commercial and managerial assignments around the world. A public charity and Valero's philanthropic arm. ExxonMobil As we said during our Low Carbon Solutions Spotlight earlier this month, our low-carbon projects must be advantaged and deliver competitive returns. I know I'm kind of asking three questions in one, but they're all focused right around the 7 to 9. ExxonMobil Exxonmobil Chief WebExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy needs. He joined with predecessor Ultramar Diamond Shamrock (UDS), and in his current position with Valero is responsible for company strategy and innovation efforts. On June 1st, we plan to launch our new enterprisewide trading organization. And so, we can now trade all along the entire length of the value chain. Chief Technology Officer Our global projects organization would be a great example of that. We're always looking for an opportunity for an acquisition and one that grows value and it's got to be value-accretive. ExxonMobil India announces new CEO and Lead Country Manager Additionally, we look forward to connecting again on May 31st for our annual shareholders' meeting. Effective On May 1st, two new enterprisewide organizations will be up and running. So, I was wondering if you could talk a little bit about the productivity trends and the driver of the strong results that you're seeing there and then, also, how you're thinking about the evolution of production for the balance of this year? Perspective WebBrad W. Corson was appointed chairman, president and chief executive officer of Imperial on January 1, 2020. We think that makes a lot of sense. I'll start, and then I'll hand it over to Kathy to build on. Hi, guys. April 27, 2023 at 06:45 AM EDT. Good morning. Hey, good morning. You know, all else held equal, a bigger company means a bigger working capital needs. In simple terms, the Chief Technology Officer is the executive responsible for managing and driving value from technology within an organisation. Experience Chief Technology Officer ExxonMobil Jan 1999 - Present 24 years 4 months. And I think I'll just -- you know, I'll catch that with, historically, you know, Exxon had kept a very lean balance sheet on both sides relative to sort of the production base and the cash flow base. (210) 345-2000. If you have a higher kind of exposure to trading, maybe you would like to run with a higher cash balance generally. Anjani Kumar has joined Tata AIG General Insurance Company Limited as Chief Technology Officer (CTO) and EVP. That's right -- theythink these 10stocks are even better buys. This is about going out and optimizing given the asset base that we have, the value chains that we're participating in, taking the insights generated from running those businesses and the opportunities that come with those insights and transacting on them. Obviously, we need to be convinced that that will sustain that progress. I'll go ahead and take that, Sam. After receiving a Bachelor of Science from the University of Illinois, Ms. Mikells began her career in 1987 at General Electric Company as an investment analyst. Hebegan his career with Valero in 1999. ExxonMobil It's maintaining a very strong balance sheet. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. ExxonMobil's Record-Setting Profits Continue. Thomas earned a business administration degree in quantitative analysis from California State University-Fresno in 1983, graduating Magna Cum Laude. Operator. Maybe a question on the chemicals business. Our diverse portfolio of advantaged businesses, improvements in mix, structural cost savings, excellence in execution are driving industry-leading earnings, cash flow, and shareholder value. Chief Technology Officer (CTO Making the world smarter, happier, and richer. The role can differ from company to company but usually includes everything from: Technology vision and strategy Architecture Innovation Software development Infrastructure Analog Devices, Inc. (Nasdaq: ADI) today announced the appointment of Alan Lee to the position of Chief Technology Officer (CTO). And then with time, that'll get balanced out based on transportation differentials. Shortly, Darren will provide opening comments and reference a few slides from this presentation. And so, you know, that's all about improving the experience for our employees, for our vendors, for our customers, and continuing to drive efficiencies and, importantly, effectiveness across those organizations. We'll go next to Ryan Todd with Piper Sandler. That has been what I would say is on a continuum of growth. Have a nice weekend, everyone. 1LIFE HEALTHCARE INC. Meet Our Executive Team | Valero Through investments in advantaged assets, mix improvements, and cost and operating discipline, we are delivering the structural earnings improvements outlined in our corporate plan update last December and expanding the energy supplies needed to meet growing global demand. He has significant leadership experience at Valero, having served as General Counsel, as well asSenior Vice President with oversight of Valero's public policy, strategic planning, governmental affairs, investorrelations and external communications functions. And at this time, I'd like to Former EVP of Development at Epic Games will lead innovation and technology strategy for Yuga's next He joined Exxon in April 1987 as a drilling engineer in New Orleans, Louisiana, after graduating from Vanderbilt University with a Bachelor of Engineering degree. After leaving GE, she held finance leadership positions in banking, including the Canadian Imperial Bank of Commerce. Schmeltekopf graduated Magna Cum Laude with a Bachelor of Business Administration degree from Texas State University in 1987. But one that is very focused on significantly growing the value proposition there, really around our footprint. Executive Team What I would say is as you look at where we're at today, I mean, this is seasonally a low point as you head into second quarter then third quarter and driving season, when you tend to see supply and demand tighten up and margins improve. While the role can vary depending on the size of a company, a CTO typically: Oversees all aspects of technology within an organization; Establishes the various roles within the IT department; Creates policies around technology infrastructure We are comfortable with everything we've got in the portfolio. Soon thereafter, Mark was promoted to Assistant Controller, and ultimately, Senior Vice President of Accounting, in 2012. Now, let me cover the quarter's headlines. A CTO should have the business knowledge necessary to align technology-related decisions with the organization's goals. But I would just say, you know, generally, as we think about the dividend, we try to keep the long term in mind and also be extremely conscious of the commodity cycles and the variability and the volatility that we see in the marketplace and making sure that we establish a level of dividends that are reliable, sustainable, and I'd like to see those grow with time. In 2005, he was appointed vice president of ExxonMobil Chemical Companys global polyethylene business. John Locke is Vice President and Treasurer. So, if economic activity is constrained, then chemical demand is constrained. He progressed through a number of domestic and international assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil Refining and Supply Company. That enabled us, obviously, to have better throughput than we would have been planning overall for the quarter. The Permian is doing well. So, I think, you know, looking at the numbers, what sort of jumps off the page is the cash balance, and you've been pretty transparent about this topic, and you know the imperative to build a fortress balance sheet. We work very closely with Total, obviously, given the same exposures and the work that we're doing there together, so, I would tell you, it's kind of a hand-in-hand approach that we're taking there, sharing information. Perspective I would say, generally speaking, we like what we're seeing in terms of productivity in the Permian. Chief Technology Officer And as the situation improves and we feel comfortable that we can successfully go in there and develop the project, we'll take steps to go do that in conjunction with Total and the work that they're doing there. ExxonMobil CEO and key executive team | Craft.co I would just also mention that we're in a relatively unusual market environment compared to what we've seen in the past. Combined with the strength of our balance sheet, we have the capability to win across a wide variety of market conditions and deliver strong returns while meeting the evolving needs of society, including the need to reduce emissions. She was promoted to Vice President-Human Resources and Administration in November 2015, and to her current position in January 2019. And then obviously, we can balance disbursement -- shareholder disbursements with buybacks. And we'll go next to Devin McDermott with Morgan Stanley. Prior to that role, Thomas served as Vice President of Retail Operations Support and Vice President of Retail Information Systems. So, our expectation as you head into the future is we'll continue to drive efficiencies and deliver structural cost savings onto the bottom line. OK. I'd say specifically and working through project concepts and designs and making sure that we're developing projects that are going to be on that left-hand side of the cost of supply curve, and bringing on production is very competitive in the marketplace to make sure that, for the long-term, we have a robust supply point there. The margin, we saw a lot of capacity come on. Mike Seavers Joins Yuga Labs as Chief Technology Officer. We're pleased to have delivered $11.4 billion of earnings, a record first quarter following a record year. So, my expectation is, you know, we've got an inventory of things going forward and would expect to see, in my mind, kind of consistent rate of being out in the market and basically finding -- seeing if we can find buyers who have a higher use for the assets than we do and, therefore, a better value and, therefore, give space.