CEO Scott Sheffield Set to Receive $29 Million Payout and Join Exxon Mobil's Board in Pioneer Natural Resources Sale

Benzinga
Benzinga
  • 7 months ago
Senior management at Pioneer Natural Resources are likely to lose their jobs once the company's sale to Exxon Mobil is completed but will receive significant severance payouts. CEO Scott Sheffield is expected to receive around $29 million and will also join Exxon's board. All employees will be offered roles at the company following the acquisition. Change-in-control payouts have become more significant in the oil and gas sector due to industry concerns.

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