Darren Woods has been chairman and CEO of ExxonMobil since January 1, 2017, when he succeeded Rex Tillerson. An electrical engineer who joined the company in 1992 and rose through its refining and chemicals businesses, Woods leads one of the world's largest investor-owned energy companies, with operations spanning oil and gas production, refining, petrochemicals, and low-carbon ventures.
Under Woods, ExxonMobil completed a roughly $60 billion all-stock acquisition of Pioneer Natural Resources in May 2024, making it the dominant producer in the Permian Basin, the largest U.S. oilfield. The company reported record production in 2025 -- its highest in more than four decades -- led by the Permian and its prolific Stabroek block offshore Guyana, where ExxonMobil is operator. Woods's 2024 total compensation rose about 19% to $44.1 million, more than 95% of it performance-linked.
Woods has paired that expansion with an aggressive legal and political posture. ExxonMobil lost a high-stakes 2025 international arbitration to Chevron over preemption rights to Hess's 30% stake in Guyana's Stabroek block, clearing the way for Chevron's takeover of Hess. And in 2024 Exxon took the unusual step of suing two of its own shareholders over a climate-related proposal, drawing criticism that it was trying to chill investor advocacy.
What they control
- ExxonMobil, one of the world's largest investor-owned oil and gas producers
- The dominant acreage position in the Permian Basin after the $60 billion Pioneer acquisition
- Operatorship of the Stabroek block offshore Guyana, one of the world's most prolific new oil developments
- A global refining and petrochemicals network plus a growing carbon-capture and low-carbon business
- Significant influence over U.S. and global energy and climate policy through ExxonMobil's lobbying and market weight
Key institutions & holdings
One of the world's largest investor-owned energy companies.
$60 billion all-stock deal that made Exxon the top Permian Basin producer.
Consortium developing one of the world's biggest new offshore oil discoveries.
Key facts
- Became ExxonMobil chairman and CEO on January 1, 2017, succeeding Rex Tillerson.
- Completed a roughly $60 billion acquisition of Pioneer Natural Resources in May 2024.
- 2024 total compensation rose about 19% to $44.1 million, over 95% performance-linked.
- ExxonMobil posted record output in 2025, its highest in more than 40 years, led by the Permian and Guyana.
- Lost a 2025 ICC arbitration to Chevron over Hess's Guyana stake, clearing Chevron's takeover of Hess.
- Operates the Stabroek block offshore Guyana, holding a 45% interest in one of the world's biggest new oil finds.
Timeline
- 1992Joins Exxon as a planning analyst.
- 2016Becomes president of ExxonMobil and joins its board.
- 2017-01-01Becomes chairman and CEO, succeeding Rex Tillerson.
- 2023-10Announces the roughly $60 billion acquisition of Pioneer Natural Resources.
- 2024-05Completes the Pioneer acquisition, becoming the dominant Permian producer.
- 2024ExxonMobil sues shareholders Arjuna Capital and Follow This over a climate proposal.
- 2025-07Loses ICC arbitration to Chevron over Hess's Guyana stake; Chevron completes the Hess takeover.
- 2025ExxonMobil reports record production, its highest in over four decades.
Controversies
Suing its own shareholders · 2024
In 2024 ExxonMobil sued investors Arjuna Capital and Follow This over a climate-related shareholder proposal and pressed the case even after it was withdrawn, drawing criticism that it sought to deter shareholder advocacy.
Climate accountability · 2017-2026
Woods and ExxonMobil face lawsuits and campaigns alleging the company long downplayed the climate risks of its products; Woods has publicly disputed that framing of the company's history.
Oil-industry consolidation and Guyana fight · 2024-2025
Exxon's failed bid to block Chevron's purchase of Hess's Guyana stake, alongside its $60 billion Pioneer deal, underscored rapid consolidation of U.S. oil into a handful of giants.
Pioneer board bar · 2024
When approving the Pioneer deal in 2024, the U.S. FTC barred Pioneer founder Scott Sheffield from ExxonMobil's board, alleging he had sought to coordinate oil output with OPEC -- a charge he disputed.
Network
- Rex TillersonPredecessorFormer ExxonMobil CEO and U.S. Secretary of State whom Woods succeeded in 2017.
- Scott SheffieldAcquired founderPioneer Natural Resources founder; the FTC barred him from Exxon's board in 2024.
- Mike WirthRivalChevron CEO whose company defeated Exxon in the 2025 Guyana arbitration to complete the Hess takeover.
Why this matters
ExxonMobil's production, pricing, and lobbying ripple through gasoline costs, inflation, geopolitics, and the pace of climate action, and Darren Woods sets the strategy for one of the largest investor-owned oil companies on earth. His $60 billion expansion in U.S. shale and control of prolific reserves off Guyana concentrate global energy supply in fewer hands, while his decision to sue shareholders over a climate proposal tests how much ordinary investors can influence a corporation whose products affect everyone. The choices he makes about how fast to drill and how seriously to weigh climate risk shape both energy bills today and environmental conditions for decades.