WASHINGTON, D.C. — The Federal Trade Commission has rejected a petition from Scott Sheffield, founder and former CEO of Pioneer Natural Resources, seeking to reopen and overturn a consent order that bars his involvement with Exxon Mobil Corporation’s board following its acquisition of Pioneer.
In a unanimous 3-0 decision, the Commission ruled that Sheffield lacks legal standing to request such a review under Rule 2.51 of the FTC’s Rules of Practice. As Sheffield is not a party to the final consent order, the FTC determined he is ineligible to petition for its repeal.
The final order, issued in January 2025, prohibits Exxon from appointing Sheffield to its board of directors or engaging him in any advisory role. It also restricts Exxon for five years from nominating or appointing any Pioneer employee or director—excluding certain named individuals—to Exxon’s board.
The FTC’s original complaint against the $60 billion Exxon-Pioneer merger cited concerns that Sheffield’s potential appointment would facilitate anticompetitive coordination, particularly due to his alleged past communications with members of OPEC. The Commission argued that such an arrangement could hinder competition in the crude oil market and might violate laws prohibiting interlocking directorates.
Although the FTC referenced Sheffield’s conduct in its complaint, it did not formally accuse him of violating antitrust statutes, such as Section 7 of the Clayton Act or Section 5 of the FTC Act.
While Sheffield’s petition under Rule 2.51 was denied, the Commission acknowledged that it will review his arguments under Rule 3.72, which allows non-parties to submit requests for Commission consideration at its discretion.
The FTC emphasized that any potential action on such a submission would adhere to Rule 3.72 procedures and remain subject to Commission review.
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