Exxon Mobil CFO to Retire; Houston-Based Company Names Successor

Exxon Mobil is undergoing a significant leadership change, announcing that Chief Financial Officer Kathy Mikells will retire due to health reasons. The decision marks the end of her tenure with the Houston-based energy giant and sets the stage for a new leader to oversee the company’s global financial strategy. Exxon Mobil, one of the largest employers and economic drivers in Houston, confirmed that a successor has been selected to ensure continuity.

Mikells, who joined Exxon Mobil in 2021, guided the company through a period of rising production, major investments, and expanding energy-transition initiatives. Her departure is scheduled to take effect in early 2025, according to company officials. While the company did not disclose further details about her health concerns, the announcement underscored its gratitude for her leadership.

Why the Transition Matters

Exxon Mobil remains deeply tied to the Houston economy, with its leadership decisions often influencing regional business activity. A change in the CFO role is particularly noteworthy because the finance office oversees capital strategy, long-term planning, and investment—critical pillars as Exxon positions itself for growth in traditional and low-carbon energy sectors.

The newly named successor, whose background includes years of experience within Exxon’s financial and operational divisions, is expected to maintain the company’s disciplined approach to long-term spending while navigating evolving global energy demands. Analysts believe the transition will be smooth due to the company’s structured leadership pipeline.

What’s Next

The CFO transition arrives as Exxon continues major project investments both in Texas and internationally. The company is increasing emphasis on carbon capture, hydrogen development, and refinery innovation, all of which require stable financial oversight. Houston’s business community will watch closely as the new finance chief steps into the role and sets priorities for the coming year.

Exxon Mobil’s leadership shift highlights the demands of guiding one of the world’s largest energy companies and underscores the importance of executive continuity during times of industry transition.

This article is a summary of reporting by The Business Journals. Read the full story here.