Exxon Mobil set to place Alex Volkov as head of global trading, sources say

Exxon Mobil Corporation

Exxon Mobil Corporation

XOM

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Tracey Gunnlaugsson retires as head of trading, David Brown also retiring, sources say

Alex Volkov has nearly 30 years at Exxon, with roles in US, Russia, London

Exxon reported $3.9 billion derivatives loss in Q1, lagging European rivals

By Arathy Somasekhar

HOUSTON, June 12 (Reuters) - Exxon Mobil XOM.N was poised to name Alex Volkov as head of global trading, two sources with knowledge of the matter said.

On Thursday, Reuters reported that sources said Tracey Gunnlaugsson, who led the trading division since 2023, was set to retire. Exxon declined to comment.

Reuters could not immediately reach Volkov for comment.

Volkov, based in Texas, has spent nearly three decades at Exxon, holding roles across the U.S., Russia and London, according to his LinkedIn profile. He has served as a vice president in several parts of the business, including global LNG marketing, upstream commercial, strategy and business development, and, currently, commercial and integration.

David Brown, who was an international crude trader, is also retiring from Exxon, three sources said.

Exxon in May reported a $3.9 billion paper loss stemming from derivatives in the first quarter which pushed net income down to its lowest level in five years. The losses contrasted with the first-quarter trading profits of European oil majors, which have spent decades building trading desks and reaped billions of dollars from this year's energy supply crunch triggered by the U.S.-Israeli war on Iran.


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