Exxon Holders Won't Divide CEO, Chairman Roles - TheStreet

Exxon Holders Won't Divide CEO, Chairman Roles

Also, Edward Whitacre Jr. is elected to the board.
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Shareholders of

Exxon Mobil

(XOM) - Get Report

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


(T) - Get Report

, where he was chairman and CEO until his retirement last year.

Exxon shares were little changed at $89.81. Elsewhere in the sector,


(CVX) - Get Report

was adding 13 cents to $99.71, and


(COP) - Get Report

was gaining 47 cents to $91.16.

This article was written by a staff member of TheStreet.com.