Exxon Mobil Vice Chairman Steps Down

Lucio Noto, former head of Mobil Corp., stepped down as vice chairman of oil giant Exxon Mobil Corp. Noto, 62, was chairman and chief executive of Mobil from 1994 to 1999, but slipped into the No. 2 chair at Exxon Mobil behind Exxon’s top executive, Lee R. Raymond. Exxon’s $81-billion acquisition of Mobil in 1999 created the world’s largest publicly traded oil company. On Jan. 24, the Irving, Texas-based company reported fourth-quarter operating profit of $5.12 billion and full-year profit of $16.91 billion and sales of $232.7 billion in 2000. Noto became vice president of planning and economics in 1986 and was named to Mobil’s board the next year. In 1989, he was named chief financial officer and rose to president and chief operating officer in 1993. Exxon Mobil shares rose $2.17 to close at $84.15 on the NYSE.