Exxon Chief Retires After 12 Years Of Ruling

The world?s biggest oil company ExxonMobil has announced that its chief executive Lee Raymond is to retire.

66-aged Lee Raymond leave its post after 42 years with Exxon, which he has led since 1993. He turned the company into the world's most valuable company by stock market share.

In 1999 Raymond successfully led Exxon's $82bn takeover of its then US rival Mobil.
The company is expected to announce that Rex Tillerson, currently its president, will replace Raymond.