Exxon Forms New Company to Focus on China Business

Strategic Insights -

Exxon Corporation has announced the formation of Exxon China Inc., a new company that will oversee the company's business activities in China. Headquartered in Beijing, Exxon China will focus on strengthening relationships with the Chinese government and external organizations, and capitalizing on the synergy between Exxon's oil and gas, chemicals, and power interests. The new company will support Exxon's existing affiliates in China, which are involved in exploration, refining, and marketing, as well as chemicals and power.

Key Takeaways:

  • Exxon China Inc. will be headquartered in Beijing and will be responsible for Exxon's business activities in China.
  • The company will focus on strengthening relationships with the Chinese government and external organizations.
  • Exxon China will support existing affiliates in China, including those involved in exploration, refining, and marketing, as well as chemicals and power.
  • The company will be led by Mr. Stephen F. Goldmann, who will assume the role of president effective October 1, 1995.
  • Goldmann has a background in chemical engineering and has held various management positions within Exxon Corporation.
  • The company's formation is intended to provide senior corporate representation and a focal point for Exxon's growing interests in China.

Statistics:

  • Exxon Corporate's China business will be overseen by a new company, Exxon China Inc.
  • The company will be headquartered in Beijing.
  • Exxon China will support existing affiliates in China, which are involved in exploration, refining, and marketing, as well as chemicals and power.
  • Mr. Stephen F. Goldmann will assume the role of president of Exxon China effective October 1, 1995.
  • Goldmann has spent 26 years with Exxon Corporation, joining in 1969.

Sources:

  • Exxon Corporation press release, September 18, 1995.
  • Exxon Corporation web site, September 18, 1995.