Michael Angelakis
EXXON MOBILAbout Michael J. Angelakis
Independent director of Exxon Mobil Corporation since 2021; age 60. Chairs the Finance Committee and serves on the Audit and Executive Committees. Background includes Vice Chairman and CFO at Comcast, Chairman & CEO of Atairos Group, and Chairman of the Federal Reserve Bank of Philadelphia, bringing deep finance, risk, and policy expertise to the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Atairos Group | Chairman & CEO | 2015–present | Investment stewardship; financial risk perspective |
| Comcast Corporation | Vice Chairman & CFO; EVP & CFO | 2007–2015 | Led transformation through 2008 financial crisis |
| Providence Equity Partners | Managing Director; Mgmt & Investment Committees member | 1999–2007 | Private equity investing in TMT sectors |
| Duke Energy Corporation | Director | 2015–2017 | Board governance in regulated utilities |
| Federal Reserve Bank of Philadelphia | Chairman; Deputy Chair & board member | 2012–2018 | Policy and financial risk oversight |
External Roles
| Company | Role | Tenure | Committee Assignments |
|---|---|---|---|
| American Express Company | Director | Mar 2025–present | Not disclosed |
| Lucky Strike Entertainment Corp. (formerly Bowlero) | Director | Dec 2021–present | Chair, Nominating & Corporate Governance |
| TriNet Group, Inc. | Director | Feb 2017–present | Nominating & Corporate Governance; Compensation |
| Clarivate Plc | Director | Dec 2021–May 2025 (withdrew from re-election) | Not disclosed |
| Prior 5-year boards | Groupon, Inc.; Hewlett Packard Enterprise Co. | Apr 2016–May 2021; Nov 2015–Apr 2020 | Not disclosed |
Board Governance
- Committee leadership and assignments: Finance Committee Chair; Audit Committee member; Executive Committee member .
- Independence: The board determined all non-employee directors (including Angelakis) are independent per NYSE and ExxonMobil standards; no transactions requiring consideration were identified .
- Attendance: The board met 10 times in 2024; average director attendance ~99%; no director under 75%; all directors attended the 2024 annual meeting .
- Engagement: Board held seven independent director sessions in 2024; robust shareholder engagement program highlighted in the proxy .
- Finance discipline focus: Angelakis emphasizes capital discipline, prioritizing low cost-of-supply, high-return projects to deliver shareholder value .
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $115,000 |
| Stock Awards (Grant-date fair value) | $255,100 |
| Other Compensation (travel accident insurance cost) | $116 |
| Total | $375,216 |
- Structure: Annual cash retainer $110,000; committee chairs receive $20,000; Lead Director receives $50,000. Annual restricted stock award: 2,500 shares to incumbents; new directors receive a one-time 8,000 restricted share grant upon joining .
- Vesting/forfeiture: Director restricted shares remain unvested until retirement (age 75) and are forfeited if leaving early; dividends paid on restricted shares; shares cannot be sold or pledged while unvested .
Performance Compensation
| Performance Metric | Applicability to Directors | Notes |
|---|---|---|
| Formula-based performance metrics (e.g., TSR, revenue, EBITDA) | Not applicable | Non-employee directors receive time-based restricted stock, not performance-based equity, options, or bonuses . |
- No options or meeting fees disclosed; director compensation is cash retainer plus time-based restricted stock; no change-in-control payments for non-employee directors .
Other Directorships & Interlocks
| Area | Details |
|---|---|
| Potential interlocks | Concurrent service on American Express, Lucky Strike, and TriNet boards; Chairman & CEO of Atairos (which holds positions in certain companies) . |
| Related-party review | Nominating & Governance Committee identified no related person transactions involving non-employee directors; board independence affirmed . |
Expertise & Qualifications
- Financial expertise, portfolio management, and risk stewardship from senior finance roles and private equity experience .
- Public policy/regulatory experience (Federal Reserve Bank of Philadelphia) .
- Board governance experience across multiple public companies .
Equity Ownership
| Indicator | Amount |
|---|---|
| Shares owned (Feb 28, 2025) | 58,792 (includes 20,000 jointly owned with spouse; 20,792 in charitable family trust where Angelakis is co-trustee) |
| Restricted shares held (Dec 31, 2024) | 15,500 (director equity grants unvested until retirement) |
| Ownership as % of shares outstanding | ~0.0014% (58,792 ÷ 4,353,802,224 outstanding shares) |
| Pledged or hedged shares | Restricted shares cannot be pledged; no pledging disclosed for directors . |
Governance Assessment
- Strengths: Independent status; Finance Committee chair with deep capital allocation expertise; broad risk, finance, and policy background; strong board attendance; alignment via share-denominated director pay with long vesting shaping long-term orientation .
- Compensation alignment: Mix of modest cash retainer plus significant time-based restricted stock; shares unvested until retirement and forfeitable if leaving early; no options or change-in-control payouts—supports independence and long-term alignment .
- Conflicts/related-party exposure: Despite extensive external roles (including leading Atairos), the proxy reports no related person transactions involving non-employee directors; board independence verified under NYSE and company standards .
- Shareholder confidence signals: 2024 say-on-pay support at 92%; directors re-elected with strong support (87%–98%); active shareholder engagement program .