Lee Raymond

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Lee R. Raymond (born August 13, 1938) was the Chief Executive Officer and Chairman of ExxonMobil from 1999 to 2005. He had previously been the CEO of Exxon 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 prestigious Woodrow Wilson Award from the Woodrow Wilson International Center for Scholars of the Smithsonian Institution 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.[1]

The report of 18 July 2007 by the National Petroleum Council, of which Raymond is a member, argues, contrary to Raymond's former position on this matter^{[citation needed]}, for an international framework to tackle emissions of carbon dioxide[2], suggesting that Raymond has taken a greener stand on energy policy after his retirement from Exxon.^{[citation needed]}

[edit] 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 in 1960.
• Raymond earned his Ph.D. in Chemical Engineering from the University of Minnesota. 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; she was pursuing, and later earned, a degree in journalism.

[edit] 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" [3]. Raymond was president of Exxon during the Exxon Valdez oil spill.

[edit] External links

Articles by Lee Raymond

• Article: World Energy Magazine - The Future of Energy in Emerging Asia
• Article: World Energy Magazine - The United Kingdom Leads Europe’s Growing Import Demand

Other

• Article on retirement package, ABC News
• Exxon’s CEO didn’t really get a $398 million retirement package, Truth on the Market blog
• SEC-filed Proxy Statement detailing Raymond's retirement compensation, SEC (US Securities and Exchange Commission)
• Enemy of the Planet New York Times piece by Paul Krugman, 17 April 2006
• Scientists offered cash to dispute climate study Guardian article by Ian Sample, 2 February 2007
• Lee R. Raymond bio