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Exxon Mobil names MetLife CEO Kandarian to its board

Published 02/01/2018, 03:37 PM
Updated 02/01/2018, 03:40 PM
© Reuters. FILE PHOTO: The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York
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HOUSTON (Reuters) - Exxon Mobil Corp (N:XOM), the world's largest publicly-traded oil producer, named MetLife Inc (N:MET) Chief Executive Steven Kandarian to its board of directors on Thursday.

Exxon cited Kandarian's financial and risk management experience as a reason for adding him to the board, which will now have 11 members.

Exxon does not hedge is oil production but does have insurance and other financial protections for part of its operations.

Shares of Exxon rose 1.9 percent to $88.95 in afternoon trading.

Exxon's move came the same day rival Chevron Corp (N:CVX) named Caterpillar Inc (N:CAT) CEO Jim Umpleby to its own board. [nL2N1PR0WI]

© Reuters. FILE PHOTO: The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York

Both Exxon and Chevron are slated to report quarterly results on Friday morning.

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