Exxon Holders Won't Divide CEO, Chairman Roles

Shareholders of Exxon Mobil (XOM Quote - Cramer on XOM - Stock Picks) voted down a measure that would have split the oil giant's chairman and chief executive posts.

Reports indicated that 39.5% of Exxon's stockholders supported the proposal. As a result, Rex Tillerson will retain both positions. The company was against the attempt to divide the roles.

The vote recently received a public push when some members of the Rockefeller family said they would back the initiative. John D. Rockefeller was the founder of Standard Oil, the predecessor of Exxon.

Separately, Exxon said shareholders elected Edward Whitacre Jr. to its board. Whitacre is chairman emeritus of AT&T (T Quote - Cramer on T - Stock Picks), where he was chairman and CEO until his retirement last year.

Exxon shares were little changed at $89.81. Elsewhere in the sector, Chevron (CVX Quote - Cramer on CVX - Stock Picks) was adding 13 cents to $99.71, and ConocoPhillips (COP Quote - Cramer on COP - Stock Picks) was gaining 47 cents to $91.16.