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Exxon Mobil's (XOM) CEO Rex Tillerson Hosts Annual Shareholder Meeting (Transcrip... Page 9 of 25
I am very proud of our operational performance and financial results of the past year. An example of our success is shown by
the photo of modern LNG cargo vessels to parking Qatar is done to supply the world's need for reliable and affordable energy.
Simple through our strengths and competitive advantages is a steadfast commitment to operate with the high standards of
ethical behavior and corporate citizenship. Building strong relationships with the customers we serve and the communities
where we operate as I want to touch on, on the next slide.
Exxon Mobil has many responsibilities to our shareholders, our neighbors, our customers, and our communities. We strive to
be responsible corporate citizens and our success is underpinned by our technological expertise, our operational excellence,
our safety performance and an unwavering commitment to ethical standards. Exxon Mobil views effective risk management
and a commitment to safety as a business imperative. As you can see, we strive to continuously improve our safety and
environmental performance.
Our business presence serves as a positive long-term economic driver in the communities where we live and work. We
continue to make significant progress in hiring host country workers, which advances economic development and education in
the communities where we operate. In Indonesia, for example, nearly 90% of employees are Indonesian nationals. Working
through the Corporation's signature programs, promoting women as catalyst for economic development, fighting malaria and
improving education, we promote social development in communities around the world. Last year alone, we invested more
than $10 million in promoting economic opportunities for women, $13 million in the fight against malaria, and $100 million
towards education initiatives worldwide.
As we have said for many years, financial results and stock market returns, particularly for highly capital intensive industries
are best viewed over long time horizons. An industry like ours requires sustainable risk management of cash and capital and
long cycle times for investments to deliver results. Exxon Mobil has generated greater shareholder returns in the broader
market and greater returns in the average of our competitors over the last 10-year and 20-year periods. Over the last decade,
the S&P annualized return was 7% versus Exxon Mobil's annualized return of 12%.
I will leave you with the key messages shown on the screen. In summary, Exxon Mobil, your corporation is well-positioned to
provide the technological and industry leadership to meet the world's growing energy needs in a safe and responsible way.
Our current portfolio of assets and long-term investments are laying the groundwork for extraordinary opportunities for
investors and we will provide the energy needed to fuel global economic growth and advancement in a very dynamic time. So,
I want to pause for a moment and take a look at a short video, where some of you may have seen running on the television
stations.
(Video Presentation)
So, now I would like to turn to the formal business of the meeting today. To begin, let me make a few brief remarks on
shareholder proposals and voting. Each year, the corporation receives a number of suggestions from our shareholders. Some
of these are in the form of proposals to be presented at the Annual Meeting, but let me just share you each is given careful
consideration. We seek dialogue with the sponsors prior to the meeting when there is more time to better understand each
other's position and very often we find agreement.
Let me be clear on the conduct of the meeting. Recognizing that the majority of our shareholders have voted by proxy and are
not present, we have established procedures to facilitate the meeting in an orderly way. We have setup the process for
speakers to identify themselves and express their views and we welcome those views. In order that as many shareholders as
possible can participate, as Mr. Rosenthal indicated, we have set some time limits and a system to simply help you manage
your time.
We have 8 items to consider. As Secretary Rosenthal said earlier, discussion on all items of business will be deferred to the
discussion period. This will enable us to have some time for general comments and questions as well and conclude the
meeting at a reasonable timeframe. For those of you, who wish to leave the meeting at anytime, let me express my
appreciation for your attendance. Since we have a number of items yet to be discussed on the program and you have been
sitting for a while now, I would invite you to take a brief moment to stand, stretch your legs just for a moment I ask to not leave
the hall unless you absolutely need to.
Okay, you please take your seats. The first item of business is the election of 12 directors. 1 nominate the 12 persons identified
on Page 17 through 20 of the proxy statement. These 12 people are highly qualified to serve on the board. All of our nominees
are currently serving as Exxon Mobil directors. All board nominees are present today.
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