Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 150

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 150
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 April 1, 2025, as chief executive officer effective at the conclusion of the annual meeting, and, provided that Mr. Whelan is elected as a director at the meeting, as chairman effective at the conclusion of the meeting. If elected, Mr. Whelan will also be a non-independent director. The board believes that both Mr. Corson and Mr. Whelan's extensive knowledge of the business of the company and Exxon Mobil Corporation has been and will be beneficial to the other directors and their participation enhances the effectiveness of the board. 

N.A. Hansen is also a non-independent director as he is an employee of Exxon Mobil Corporation. Mr. Hansen holds the position of senior vice-president, energy products at ExxonMobil Product Solutions Company, a division of Exxon Mobil Corporation. The company believes that Mr. Hansen, although deemed non-independent under the relevant standards by virtue of his employment, can be viewed as independent of the company’s management and that his ability to reflect the perspective of the company’s shareholders enhances the effectiveness of the board. 

Name of directorand/or nominee  Management Independent  NotindependentReason for non-independent status D.W. Cornhill ü B.W. Corson (a) üüB.W. Corson is a director and chairman, president andchief executive officer of Imperial Oil Limited. S.R. Driscoll ü J.N. Florenü G.J. Goldbergü N.A. HansenüN.A. Hansen is an employee of Exxon Mobil Corporation.  M.C. Hubbs ü J.R. Whelan (b)üüIf elected, J.R. Whelan will be chairman, president and chief executive officer of Imperial Oil Limited.

(a)B.W. Corson is a current director and has chosen not to stand for re-election at the annual meeting of shareholders.

(b)J.R. Whelan is not currently a director and is being nominated for election as a director at the annual meeting of shareholders.

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Committee membership of our board

 Each standing committee is chaired by a different independent director and all of the independent directors are members of each committee.

The chart below shows the company’s current standing committee memberships and the chair of each committee. 

DirectorNominationsand corporategovernancecommitteeAuditcommittee(b)Safety and sustainability committeeExecutiveresourcescommitteeFinance committee D.W. Cornhill (c) üüüüüChair B.W. Corson (a) ————— S