Sheffield declines to take seat on Exxon's board
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Hess, Exxon and Chevron
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Former Pioneer Natural Resources CEO Scott Sheffield told Hart Energy, “For now, I remain one of Exxon’s largest individual shareholders and as such will consider other options.”
Chevron can proceed with its $53 billion Hess acquisition after winning an ICC ruling and receiving FTC approval for board integration.
Sheffield filed a petition in March requesting the FTC reconsider the final consent order, which also prohibits Exxon from nominating, designating or appointing any other Pioneer employees or directors, other than certain named individuals, to its board for five years.
The FTC reversed an order barring Scott Sheffield from Exxon’s board, but the former Pioneer CEO said he was no longer interested in joining.