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Page added on January 5, 2017

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Rex Tillerson

Public Policy

Rex W. Tillerson, in line to become the next secretary of state, has agreed to sever all ties with ExxonMobil Corp. to comply with conflict-of-interest requirements. Senate hearings are scheduled to begin Jan. 11. With his retirement effective Dec. 31, the board awarded Tillerson a retirement package worth an estimated $180 million to severe financial ties; the net effect is a reduction of about $7 million in future compensation. If he is confirmed, ExxonMobil agreed to transfer to an independent trust the equivalent of two million unvested shares that Tillerson would have received in March, when he originally was scheduled to retire. Forfeiture rules would prohibit Tillerson from working in the oil and/or natural gas industry during the 10-year payout period. He also agreed to surrender $4.1 million-plus in cash bonuses over the next three years, and he surrendered retiree medical and dental benefits, administrative, financial and tax support. Separate to the agreement, Tillerson also committed to the State Department that, if confirmed, he would sell the more than 600,000 shares in ExxonMobil that he currently owns.

NGI



8 Comments on "Rex Tillerson"

  1. dave thompson on Thu, 5th Jan 2017 7:29 pm 

    HA this guy severs all ties? MY ASS!

  2. Sissyfuss on Thu, 5th Jan 2017 10:12 pm 

    Two million shares in an independent trust. Why would he enact legislation favorable to his former company? No reason that I can see.
    (Snark, sarc, fark.)

  3. GregT on Fri, 6th Jan 2017 12:14 am 

    Welcome to the Rest of Our Lives

    With a special guest appearance from soon to be: United States Secretary of State, Rex, we’ll adapt to that, Tillerson.

    https://www.youtube.com/watch?v=b0NrS2L6KcE

  4. dooma on Fri, 6th Jan 2017 3:02 am 

    Famine, we WILL have no choice but adapt to that.

  5. Cloggie on Fri, 6th Jan 2017 4:23 am 

    Famine, we WILL have no choice but adapt to that.

    That’s easy, simply don’t eat and lose a few kg as you go.

  6. Davy on Fri, 6th Jan 2017 6:32 am 

    I applaud Trump for choosing this man. It is a gesture to Putin and let us hope Rex and others will work to reduce the threat of NUK WAR. Bitch all you like about him because he is rich, who cares? It is the results that matter. What politician is not corrupt and how many are not wealthy or connected? It is just the nature of the game with a civilization close to failure. If another group gains power they will corrupt. You think a green liberal is not going to corrupt? What would you call the last US election snowflake dumbass?

    Most people make me sick today at the level of morals and ethics. Oh, yea, I am a hypocrite so don’t think I am special either. People who are not wealthy but blame complain and point fingers are useless to me. Who cares if you are not rich. Is your life a failure because you are not rich? Is money all that matters to you? Do you not have anything of value inside your person? Can you not accept we are a failure as a species? Every one of us is a collective wasted breath.

    What I admire is someone with just enough who is not about blame and complain. These people make the best of things and accept what can’t be changed. If you think you can change things by blame and complain you are deceived. If you and millions others achieve this change it will be a collapsed world. The reason for this is we are too far past a threshold of change that is reasonably survivable with the type of changes most people would like to see. Realistically no change is likely possible and survivable for most eventually. The potential for fairness and dignity for all men went out the window years ago. It is likely not part of our species anyway.

    What is ahead is a die off that is unfair and brutal. I am not sure when but with so many pissed-off angry people it can’t be far off. I will say this revenge is sweet. Imagine this, just before you waste away in hunger and exposure lynch a few people and see life leave them before it leaves you. Feel great at dealing out death before you die. You can feel like a god or something just before the lights go out.

  7. Kenz300 on Fri, 6th Jan 2017 12:10 pm 

    The fossil fuel industry is doing all they can to protect their investments and continue to make huge profits while destroying the planet.

    The top 1% are abusing their power.

    When will the 99% wake up?

  8. GregT on Fri, 6th Jan 2017 12:18 pm 

    “When will the 99% wake up?”

    When modern industrial society finally collapses due to not enough affordable fossil fuels, and they are starving to death. Then their dream will be over.

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