Lee R. Raymond (born August 13, 1938) was the Chief Executive Officer and Chairman of
ExxonMobilThe Exxon Mobil Corporation, or ExxonMobil, is an American oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil....
from 1999 to 2005. He had previously been the CEO of
ExxonExxon is a brand of motor fuel and related products sold by ExxonMobil. From 1972 to 1999, Exxon was the corporate name of the company previously known as Standard Oil Company of New Jersey or Jersey Standard.- History :...
since 1993. He joined the company in 1963 and has been president since 1987 and a director since 1984.
On August 4 2005, Raymond announced that he would retire at the end of 2005 as ExxonMobil's Chairman and CEO. ExxonMobil president Rex W.
Lee R. Raymond (born August 13, 1938) was the Chief Executive Officer and Chairman of
ExxonMobilThe Exxon Mobil Corporation, or ExxonMobil, is an American oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil....
from 1999 to 2005. He had previously been the CEO of
ExxonExxon is a brand of motor fuel and related products sold by ExxonMobil. From 1972 to 1999, Exxon was the corporate name of the company previously known as Standard Oil Company of New Jersey or Jersey Standard.- History :...
since 1993. He joined the company in 1963 and has been president since 1987 and a director since 1984.
On August 4 2005, Raymond announced that he would retire at the end of 2005 as ExxonMobil's Chairman and CEO. ExxonMobil president Rex W. Tillerson succeeded Raymond on 1 January 2006. On April 14, 2006, it was reported that Raymond's retirement package was worth about $400 million, the largest in history for a U.S. public company. However, the majority of that sum consisted of retirement-independent salary, bonuses, stock options, and restricted stock awards from his final year and prior years that, while high, are by no means unprecedented among major American CEOs. Retirement-specific payments in accordance with the standard pension plan provided to all ExxonMobil employees totaled around $100 million, calculated based on his over forty years of service and his salary upon retirement.
His son, John T. Raymond, is active in the oil and gas industry. John partnered with the Jim Flores and Paul Allen-backed Vulcan Capital in the buyout of Plains Resources.
Lee Raymond received the
Woodrow Wilson AwardWoodrow Wilson Awards are given out multiple times each year by the Woodrow Wilson International Center for Scholars of the Smithsonian Institution to individuals in both the public sphere and business who have shown an outstanding commitment to President Woodrow Wilson's dream of integrating...
from the
Woodrow Wilson International Center for ScholarsThe Woodrow Wilson International Center for Scholars , located in Washington, D.C., is a United States Presidential Memorial that was established as part of the Smithsonian Institution by an act of Congress in 1968...
of the
Smithsonian InstitutionThe Smithsonian Institution is an educational and research institute and associated museum complex, administered and funded by the government of the United States and by funds from its endowment, contributions, and profits from its shops and its magazines...
for Corporate Citizenship during a dinner held in his honor in Dallas, Texas in early 2003.
Raymond was chair of the NPC when it was asked to produce a report on the future of oil supply and demand.
http://www.usatoday.com/money/industries/energy/2005-11-24-peak-oil-usat_x.htm
The report of 18 July 2007 by the
National Petroleum CouncilThe National Petroleum Council is an American advisory committee representing oil and natural gas industry views to the Secretary of Energy.The council was established in 1946 at the request of President Harry S. Truman to represent industry views on any matters relating to oil and natural gas...
, of which Raymond is a member, argues, contrary to Raymond's former position on this matter, for an international framework to tackle emissions of carbon dioxide
http://www.npc.org/7-18_Press_rls-post.pdf, suggesting that Raymond has taken a greener stand on energy policy after his retirement from Exxon, because while serving as the CEO and Chairman his answer to questions about options for sustainable development always was: "That's not the way we do business", exactly the opposite of what John Hofmeister of Royal Dutch Shell always stated, although both companies are partners in the world's biggest public-private partnership,
N.V. Nederlandse GasunieN.V. Nederlandse Gasunie is a Dutch natural gas infrastructure and transportation company. Gasunie owns the Dutch gas transmission network with a total length of over 12,000 kilometers.-History:...
.
Education and Background
- Raymond was born in Watertown, S.D., in 1938 and graduated from Watertown High School in 1956.
- Raymond received a Bachelor's degree in chemical engineering from the University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
in 1960.
- Raymond earned his Ph.D. in Chemical Engineering from the University of Minnesota
The University of Minnesota, Twin Cities is a public research university located in Minneapolis and St. Paul, Minnesota, United States...
. He was awarded an honorary doctorate of laws degree from the same university in 2001.
- Met his wife while studying at the University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
; she was pursuing, and later earned, a degree in journalism.
Criticism
A shame pole was erected in 2007 against Exxon due to their perceived failure to honor their promise to make Alaska "whole again", with Raymond's face topping the pole, included according to one of the carvers involved its construction "So kids can figure out he's a liar"
http://www.adn.com/news/alaska/ap_alaska/story/8738967p-8640635c.html. Raymond was president of Exxon during the
Exxon Valdez oil spillThe Exxon Valdez oil spill occurred in the Prince William Sound, Alaska, on March 24, 1989. It is considered one of the most devastating human-caused environmental disasters ever to occur at sea. As significant as the Valdez spill was, it ranks well down on the list of the world's largest oil...
.
External links
Articles by Lee Raymond
Other