Company profile
SEC EDGAR ↗- Industry
- Petroleum Refining
- Listed
- NYSE: XOM
- Incorporated
- TX
- Headquarters
- Spring, TX
- Fiscal year end
- Dec 31
Decisions on record
2 verified Decision Cases on ExxonMobil, and the casebook each one belongs to.
| Fork date | Decision type | What ExxonMobil chose | Where it stood | The story | Casebook |
|---|---|---|---|---|---|
| 2021 | Crisis Response | Mount full proxy defense | three of Engine No. 1's candidates were seated and three Exxon directors were out (2021) | Read the story → | Crisis Response Casebook → |
| 2024 | Cannibalization Choice | Concentrate into cheapest barrels | distributed $36.0 billion to shareholders, more than all but five S&P 500 companies (2024) | Read the story → | Cannibalization Choice Casebook → |
Run one of these yourself
The decisions ExxonMobil faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Growth & PortfolioThe Adjacency ExpansionWhen does the business next door belong to you?See the pack →Decision ForksThe CannibalizationShould you launch the thing that takes revenue from your best business?See the pack →Crisis & ReinventionThe Crisis ResponseWhat is one more quarter of not acting worth?See the pack →
The analyses
The Adjacency Expansion · Growth & Portfolio
Exxon Paid a Thin 9% Premium for Pioneer, Then Doubled Its Synergy Promise Twice
Headlines called it a $60 billion swing on shale's future. But Exxon paid a thin 9% premium in its own stock, then doubled the synergy promise twice. The tell was never the price - it was what Exxon thought it could do with the acreage.
8 min
The Cannibalization Choice · Growth & Portfolio
Everyone Else Is Hedging the Energy Transition. ExxonMobil Is Betting Against It.
While rivals dressed up as energy companies, ExxonMobil spent $59.5 billion on shale, targeted 5.5 million barrels a day by 2030, and forecast $145 billion in surplus cash. That isn't a hedge. It's a wager that oil outlasts the timelines.
8 min
The Crisis Response · Crisis & Reinvention
A $250M Fund Took Three Seats on Exxon's Board. The Real Story Is Who Handed It the Votes.
In 2021 a three-month-old fund owning 0.02% of ExxonMobil won three of 12 board seats against a defense Exxon projected at $35M above its normal proxy costs . It wasn't an ESG triumph - it was a referendum on a $22.4 billion loss, a Dow ejection, and a decade of destroyed value.
8 min
The Crisis Response · Crisis & Reinvention
Exxon's Reputation Drowned in Prince William Sound. Its Balance Sheet Swam.
In 1989 Exxon's CEO went silent for nearly six days after the largest oil spill in U.S. history at the time. The reputational damage was permanent. The financial damage wasn't: a $5 billion jury verdict became $507.5 million after a 19-year fight.
8 min
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
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The defining moves in business, and what they teach, as they publish.