Exxon Mobil Corporation Endows Scholarship Awards to Honor Lee R. Raymond, Retired Exxon Mobil Corporation Chairman & CEO; $2.5
06 Février 2006 - 6:18PM
Business Wire
Exxon Mobil Corporation (NYSE:XOM) is establishing a $2.5 million
endowment in the Teagle Foundation to fund scholarship awards in
honor of Lee. R. Raymond, recently retired chairman of the board
and CEO of Exxon Mobil Corporation. The scholarships, to be named
the L. R. Raymond Awards in the Teagle Scholarship Program, are to
be awarded on an academically competitive basis to children of
ExxonMobil employees. The gift permanently endows a major part of
the Teagle Scholarship Program, one of several higher education
initiatives within the Teagle Foundation. "We are very grateful for
this gift from ExxonMobil which will help the Teagle Foundation
carry on its long-standing commitment to high academic achievement
and access to quality education," stated Robert Connor, president
of the Teagle Foundation. The naming of the awards is recognition
of Mr. Raymond's extraordinary contributions to ExxonMobil as
chairman and his lifelong interest in education. As with prior
chairmen, Lee R. Raymond continued the tradition of enthusiastic
support for educational opportunity and philanthropy. He has been
very involved in minority education, and served on the board of the
National Action Council for Minorities in Engineering for ten
years. He also served on the board of the United Negro College Fund
and the College Board's National Task Force on Minority High
Achievement. His other efforts include board membership of the
University of Wisconsin Alumni Research Foundation, the National
Advisory Council for the American Society for Engineering Education
and prior service as a Southern Methodist University Trustee. As
chairman of the board and CEO, Raymond has provided leadership and
support for ExxonMobil's philanthropic contributions. In 2004,
ExxonMobil Foundation, Exxon Mobil Corporation, and its divisions
and affiliates provided $106.5 million in contributions worldwide,
with $40 million dedicated to education. Education initiatives
include grants to improve the teaching and learning of science,
technology, engineering and mathematics; support for organizations
that seek to improve career opportunities for minorities and women;
and a matching gift program to higher education for employees and
retirees. About the Teagle Scholarship Program Each year the Teagle
Foundation, an independent philanthropy based in New York City,
makes awards to college-bound students who are children of
ExxonMobil employees and have distinguished themselves in a
competitive selection process run by the Educational Testing
Service (ETS). Over a hundred awards are made in a typical year,
with a total budget for the program over $500,000. Questions about
the program should be directed to the ETS office of Scholarship
& Recognition Programs at (609) 771-7878. About Exxon Mobil
Corporation Exxon Mobil Corporation is a leading international
energy company whose subsidiaries have operations in approximately
200 countries and territories. In the United States, ExxonMobil has
significant exploration and production, refining and marketing and
chemicals operations. ExxonMobil is one of the largest oil and gas
producers and reserve holders in the United States, with a
portfolio including Alaska, onshore Gulf Coast and deepwater Gulf
of Mexico. In addition, there are approximately 16,000 Exxon and
Mobil branded service stations in the U.S., as well as seven
refineries, four of which are integrated petrochemical facilities.
For more information about ExxonMobil, please visit the company's
website at www.exxonmobil.com. About the Teagle Foundation In
addition to the Teagle Scholarship Program, the bulk of the Teagle
Foundation's work is concentrated on providing intellectual and
financial leadership for the promotion and strengthening of liberal
education. The Foundation was established in 1944 by Walter C.
Teagle, who had served as president of Standard Oil and later as
its chairman. Mr. Teagle gave the Foundation great latitude and
independence in pursuing its mandate of advancing "the well-being
and general good of mankind." Over the years the Foundation has
supported many causes, but always maintained Mr. Teagle's interests
in higher education, and in providing financial assistance to
family members of employees of his corporation who were "desirous
of obtaining some form of educational advantage." For more
information about the Teagle Foundation, visit its website at
www.teaglefoundation.org.
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