FTC seeks public comment on ex-Pioneer CEO's petition to modify Exxon order
ReutersApr 11, 2025 6:33 PM
WASHINGTON, April 11 (Reuters) - The U.S. Federal Trade Commission said on Friday that it was seeking public comment on a petition filed by the former CEO of Pioneer Natural Resources asking the commission to set aside an order involving Exxon Mobil Corp's XOM.N acquisition of Pioneer.
Pioneer founder and former chief executive Scott Sheffield wants to set aside an FTC order that prohibited Exxon from nominating, designating, or appointing Sheffield to the Exxon board of directors or from having him serve in an advisory capacity in any way to Exxon.
Exxon, the No. 1 U.S. oil company, bought Pioneer last year in a deal worth $59.5 billion.
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