FTC bars former Pioneer CEO Scott Sheffield in Exxon Mobil deal
Pioneer Natural Resources’ office is shown on Jan. 13, 2021, in Midland, Texas. Exxon Mobil’s $60 billion deal to buy Pioneer has received clearance from the Federal Trade Commission, but the former CEO of Pioneer was barred from joining the new company’s board of directors. Jacob Ford/AP hide caption toggle caption Jacob Ford/AP Pioneer Natural Resources’ office is shown on Jan. 13, 2021, in Midland, Texas. Exxon Mobil’s $60 billion deal to buy Pioneer has received clearance from the Federal Trade Commission, but the former CEO of Pioneer was barred from joining the new company’s board of directors. Jacob Ford/AP WASHINGTON — Exxon Mobil’s $60 billion deal to buy Pioneer Natural Resources on Thursday received clearance from the Federal Trade Commission, but the former CEO of Pioneer was barred from joining the new company’s board of directors. The FTC said Thursday that Scott Sheffield, who founded Pioneer in 1997, colluded with OPEC and OPEC+ to potentially raise crude oil prices. Sheffield retired from the company in 2016, but he returned as president and CEO in …