Background
Raymond, Lee R. was born on August 13, 1938 in Watertown, South Dakota, United States.
Raymond, Lee R. was born on August 13, 1938 in Watertown, South Dakota, United States.
Bachelor of Science in Chemical Engineering, University Wisconsin, 1960. Doctor of Philosophy Chemical Engineering, University Minnesota, 1963. Doctor of Laws (honorary), University Minnesota, 2001.
He had previously been the Chief Executive Officer of Exxon since 1993. He joined the company in 1963 and has been president since 1987 and a director since 1984. Raymond received a bachelor"s degree in chemical engineering from the University of Wisconsin–Madison in 1960.
He was awarded an honorary doctorate of laws degree from the same university in 2001.
Raymond began working for ExxonMobil in 1963. Raymond became a director of ExxonMobil in 1984 and in 1987 he became the President of the company.
In 1993, he became Chief Executive Officer, a post he held until 2005. On August 14, 2005, Raymond announced that he would retire at the end of 2005 as ExxonMobil"s Chairman and Chief Executive Officer. ExxonMobil president Rex West. Tillerson succeeded Raymond on 1 January 2006.
On April 14, 2006, it was reported that Raymond"s retirement package was worth about $400 million, the largest in history for a United States. public company.
However, the majority of that sum consisted of retirement-independent salary, bonuses, stock options, and restricted stock awards from his final year and prior years that, while high, are not unprecedented among major American Chief executive officers. Retirement-specific payments in accordance with the standard pension plan provided to all ExxonMobil employees totaled around $100 million, calculated based on his over forty years of service and his salary upon retirement. Raymond was also chair of the National Petroleum Council (Non-Player Character), when it was asked to produce a report on the future of oil supply and demand.
Raymond was one of the most outspoken executives in the United States against regulation to curtail global warming.
Lee Raymond was at the helm of Exxon while it remained of the last large companies to not include gay employees in their anti-discrimination policy. He was also at the helm during the takeover of Mobil, when the new Exxon-Mobil corporation rescinded Mobil"s pre-existing anti-discrimination policy.
Human Resources policy was eventually updated in 2015 to include a prohibition on discrimination against gay employees, but from 1999-2014 the board annually rejected a resolution brought by shareholders to compel the company to implement a non-discrimination policy. Raymond was also one of the few Fortune 500 Chief executive officers to publicly speak against the Kyoto Protocol.
He questioned the science behind global warming, and warned that regulations would be ineffective.
John partnered with the Jim Flores and Paul Allen-backed Vulcan Capital in the buyout of Plains Resources. Lee Raymond received the Woodrow Wilson Award from the Woodrow Wilson International Center for Scholars of the Smithsonian Institution for Corporate Citizenship during a dinner held in his honor in Dallas, Texas in early 2003.
Board directors United Negro College Fund, since 1991. Member advisory board Project Shelter Pro-Am, Section Energy. Trustee Wisconsin Alumni Research Foundation, since 1987.
Board directors, honorary trustee business council International Understanding, Inc. Member innovations in medicine leadership council University Texas Southwestern Medical Center. Partner emeritus New York City Partnership.
Vice chairman, board trustee American Enterprise Institute, Washington. Member Dallas Citizens Council, University Wisconsin Foundation, American Council on Germany, Dallas Committee Foreign Relations, Council on Foreign Relations, Emergency Committee for American Trade, Singapore-United States Business Council, Trilateral Commission. Member of American Institute Chemical Engineers (member executive committee of the 21st Century Campaign), Trilateral Commission, Occupational Physicians Scholarship Fund (chairman fundraising campaign 1995), American Society Engineering Education (national advisory council), Singapore-United States Business Council, Council Foreign Relations, National Petroleum Council (member nominate and natural gas committees), Business Roundtable (member policy committee, security task force, taxation task force, government relations working group), Business Council, National Academy of Engineering.
Married Charlene Raymond, 1960.