This is John D. Rockefeller's Co. and the culture has never changed for 100 years. Moreover, XOM is run by engineers not corporate bureaucrats. There is a LONG history of scale, cost controls/ongoing cost cutting, strong financial discipline and conservatism.

The new president of XOM Upstream is Dan Ammann. Kinda looks like a corporate bureaucrat to me. He was appointed a couple of weeks ago. His degree is in economics.


Ammann began his career as an investment banker,[5] starting at Credit Suisse First Boston in 1993.[3] He moved to New York City in 1997,[1] and continued to work for Credit Suisse until moving to Morgan Stanley in 1999. In 2004,[3] he was appointed the position of managing director and head of industrial investment banking for Morgan Stanley.[6] At Morgan Stanley, Ammann worked with clients in the technology, service, and manufacturing industries, helping with mergers, acquisitions, raising capital, and restructuring.[7] He was also the lead advisor on GM's bankruptcy reorganization.[1]

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