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Exxon Speaks! CEO Will Be on First Earnings Call in 15 Years

  • After criticism, Woods changes policy of his predecessors
  • ‘Just because you’re Exxon’ isn’t enough anymore: analyst
Darren Woods
Darren WoodsPhotographer: Giulia Marchi/Bloomberg
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Darren Woods is about to do something no Exxon Mobil Corp. chief executive officer has done in at least 15 years -- he’s going to speak to analysts on an earnings conference call.

On Friday, Woods will break with the company’s longstanding tradition and speak about fourth-quarter results. The reason for the change of heart is clear: Exxon dropped 18 percent last year, its worst annual performance since Ronald Reagan became president in 1981, chiefly due to major earnings and production misses. Earnings days have been particularly bad -- shares of the Irving, Texas-based company have dropped after three of the past four quarterly releases, including a 5.1 percent plunge last February.