ExxonMobil has announced that its chief financial officer, Kathy Mikells, will retire on 1 February as she continues treatment for a health challenge that, while serious, is not life-threatening.

Chief executive Darren Woods revealed the development during the company’s latest corporate update, noting that Mikells has undergone several medical procedures in recent months. He said the decision to step back was difficult but necessary for her full recovery.

Mikells acknowledged the demanding year she has faced, explaining that recovery has been gradual and still requires her full attention. She expressed disappointment about leaving but said it became clear she needed to hand over the role to someone able to give it complete focus.

ExxonMobil has appointed Neil Hansen, currently president of global business solutions, as the incoming CFO. Hansen will also join the company’s management committee. He and Mikells will work together over the coming weeks to ensure a smooth handover.

Woods praised Mikells for strengthening ExxonMobil’s financial discipline and building internal talent during her four years with the company. He thanked her for her leadership and wished her a speedy recovery.

Mikells, who grew up in Chicago, joined ExxonMobil in 2021 after senior finance roles at Diageo, ADT, Xerox and United Airlines, where she spent 16 years. She began her career at General Electric in 1987 and also worked in the banking sector.

Hansen, her successor, has spent 25 years with ExxonMobil in various strategic and financial roles across multiple regions. Woods described him as a respected leader with a strong track record in managing high-performing teams.

Mikells is expected to participate in her final earnings call during ExxonMobil’s fourth-quarter results presentation early next year.