Exxon says CEO Tillerson to retire at year-end

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FILE PHOTO - ExxonMobil Chairman and CEO Rex Tillerson speaks during the IHS CERAWeek 2015 energy conference in Houston, Texas April 21, 2015. REUTERS/Daniel Kramer/File Photo TPX IMAGES OF THE DAY - RTX2UQYE (Copyright Reuters 2016)

Oil major Exxon Mobil Corp said Chief Executive Rex Tillerson, who is U.S. President-elect Donald Trump's pick for Secretary Of State, would retire at the end of the year.

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Exxon said President Darren Woods would take over as chairman and CEO, effective Jan. 1.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Savio D'Souza)