ExxonMobil’s low-carbon business president stepping into upstream role

The president of ExxonMobil Low Carbon Solutions (LCS), a subsidiary of U.S.-headquartered energy giant ExxonMobil, is set to take the helm at the firm’s upstream business following the announced retirement of its current head.

ExxonMobil’s board of directors has appointed its current LCS president Dan L. Ammann as the new president of ExxonMobil Upstream Company, effective February 1, 2025. Ammann joined the company in 2022 to grow the LCS business and focus on delivering profitable, large-scale emissions-reduction solutions for key industries, as stated by ExxonMobil.

“I’m excited to take on this new challenge. Some might think that moving from Low Carbon Solutions to Upstream is surprising, but it’s not. Meeting the world’s energy demand is not an ‘either/or’ proposition. It’s an ‘and’ equation. One that requires both an increase in supply of safe, reliable, affordable energy AND a reduction in greenhouse gas emissions – and I will continue to focus on both,” noted Ammann.

Before coming onboard the U.S. major, Ammann held positions in Silicon Valley (CEO of Cruise), Detroit (president of General Motors), and Wall Street (managing director at Morgan Stanley). In 2023, he made TIME magazine’s first-ever TIME100 Climate list.

The appointment follows the news that Liam M. Mallon, president of ExxonMobil Upstream Company and Vice President (VP) of Exxon Mobil Corporation, will retire effective February 1, 2025. Mallon, who has been president of ExxonMobil’s upstream business since 2022, joined the company in 1990 in Aberdeen, Scotland. 

Darren Woods, Chairman and Chief Executive Officer of ExxonMobil, thanked Mallon for his long-standing service to the company, and wished him all the best in his “well-deserved retirement.” 

“These appointments continue the company’s approach of leveraging the diverse skills and experiences of a very accomplished executive team to bring fresh perspectives and approaches to each of our exceptionally talented organizations. This has served us well over the last several years and is a useful, innovative way to strengthen our leadership teams, challenge conventions and broaden our people,” said Woods.

Furthermore, Barry L. Engle, who joined ExxonMobil in September 2024, is set to take over as LCS President effective January 1, 2025. Engle has three decades of experience in the automotive industry, holding the functions of President of GM North America and President of GM International. Both Engle and Ammann will also serve as VPs of Exxon Mobil Corporation.

Alongside new appointments, the U.S. giant has been busy with its core business activities around the globe. The firm’s Surinamese subsidiary decided to withdraw from Block 52, containing gas and oil discoveries off the coast of Suriname, and transfer its stake to its partner, Petronas Suriname E&P.

ExxonMobil is also the operator of PNG LNG, an integrated development to commercialize the gas resources of Papua New Guinea. Last month, two wells were connected to the project as part of the Angore development, which is expected to unlock one trillion cubic feet (tcf) of natural gas resources to supply PNG LNG for years to come.