Energy corporation Exxon Mobil is preparing to appoint Alex Volkov as its new global trading chief, according to two industry sources familiar with the decision.
The anticipated leadership change follows reports from Thursday that Tracey Gunnlaugsson, who has overseen the trading operations since 2023, is planning to retire. Company representatives declined to provide comment on the matter.
Attempts to contact Volkov directly for a response were unsuccessful.
Working from Texas, Volkov brings nearly 30 years of experience with Exxon to the potential new role, with assignments spanning the United States, Russia, and London based on his professional profile. Throughout his career, he has held vice president positions in multiple business segments, including global LNG marketing, upstream commercial operations, strategy and business development, and his current role in commercial and integration.
Sources also indicated that David Brown, who worked as an international crude trader, is planning his departure from Exxon as well.
The company faced significant financial challenges in the first quarter, recording a $3.9 billion paper loss from derivatives that drove net income to its lowest point in five years. These losses stood in sharp contrast to the trading gains achieved by European oil companies during the same period, as those firms capitalized on energy market disruptions caused by the U.S.-Israeli conflict with Iran through their established trading operations built over decades.
