Oil Exec Begs FTC: Reopen Exxon-Pioneer Deal Now
Published Date: 4/17/2025
Notice
Summary
Scott Sheffield, once part of Pioneer Natural Resources, wants the FTC to reopen and change its January 2025 decision about Exxon Mobil buying Pioneer. This could affect how the deal is handled and might change the rules or conditions set before. People have until May 12, 2025, to share their thoughts, and the FTC will decide within 120 days whether to make any changes.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
FTC Order Blocks Exxon Board Appointments
The Federal Trade Commission's Decision and Order entered on January 16, 2025 prohibits Exxon Mobil from appointing Scott Sheffield to its Board of Directors, prohibits Exxon from appointing Mr. Sheffield to serve “in an advisory capacity in any way,” and prohibits Exxon from appointing thousands of current or former Pioneer Natural Resources employees to its Board. Scott Sheffield filed a petition dated March 14, 2025 asking the FTC to reopen and set aside that Order.
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