Darren Woods, the man replacing Rex Tillerson as the leader of America's most influential energy giant, helped transform Exxon Mobil Corp.'s (IW 500/1) refining business from a poor cousin of oil production to the primary profit generator.. Woods, the company's refining boss since 2012, was named the next chairman and chief executive officer effective Jan. 1 after President-elect Donald . With longstanding investments in technology coupled with the ingenuity of our people, we are well positioned to continue to responsibly meet the demands of a more prosperous world. But I think the clamour for more action is not going to stop, and being part of the solution to that energy transition is not the same as actually trying to stop the bad stuff that you've been doing for the last 10, 20 years. Energy Factor Darren Woods is CEO of ExxonMobil, one of the world's largest oil and gas companies. He joined the refining side of the business, he was there for 24 years, and he became the CEO in January, 2017. Tune in next time, for more discussion of how the leaders of today are making waves. Straight from Darren Woods Jr.'s mouth-that is his leadership style. Complacency breeds to corporate death. With 5 years experience as a PA within the investment sector; Emma joined OGCI Climate Investments in 2019 as Assistant to the . Global economies are rebounding as vaccination rates rise and infection rates fall. Darren Woods is a businessman from the United States working as an elected Chairman and CEO of the world's largest publicly traded worldwide oil and gas firm. They're taking a slightly different take, they're saying we're still producing oil and gas, but we're also generating renewable energy. He had worked for Exxon for 24 years prior to being promoted to CEO following Rex Tillerson's nomination by President Donald Trump to be the next United States Secretary of State. In 2005, Mr. Woods was appointed vice president of ExxonMobil Chemical Company in Houston, Texas, where he managed global specialty-chemical businesses. It brings back to mind for me, an interview I read a year or two ago, from one of the big tobacco companies, when they said that they were investing in bringing about a smokeless future.This is kind of ExxonMobil and Darren himself getting ahead of the wave of discontent on the investor front, the consumer front, the market and geopolitical front, to say actually we are part of the solution here. Finally, Woods revealed a fair amount of optimism about Sakhalin-I, which is a Russian project being carried out by Exxon Mobil and a number of other oil and gas companies. Jordan Greenaway: Thanks Sam, and before we go onto the next section you know in these podcasts, we discuss a lot around what these CEOs are doing, but I also think there's practical advice here. The great man theory. Mr. Woods added notes of caution in his . After theprice of crude collapsed, the firm slashed capital spending by $10 billion,cut thousands of workers, and said it would write downbillions morein assets. To be exact, Woods was running its refining and chemical division, which is notable because it brings in the lions share of the corporations revenues. Over our 135-year history, weve always demonstrated a way to evolve and adapt to meet the needs of society, and I've never been more excited about our opportunity to lead and grow. We've had outstanding success with discoveries in Guyana and increased the total estimated recoverable resource on the Stabroek block to approximately 10 billion oil-equivalent barrels. Kathryn A. The seven primary leadership styles are: Autocratic. Mobil's CEO, Darren Woods, has a CEO approval rating of 65/100, as scored by 35 Mobil employees, placing Darren Woods in the Bottom 25% of similarly-sized companies for CEO score. Chairman and CEO, Chevron. Lindsey Jacobson @in/lindsey-jacobson-8a48a420 . We're also better positioned to apply our corporate competitive advantages and the outstanding talents of our people. Woods was born in the city of Wichita, which can claim the honor of being the most populous city that can be found in the state of Kansas. To be honest, it's astounding that it's taken the industry this long to really catch up and really ramp up their commitment to addressing the problem. Vice Chairman. 2. We plan to succeed in this area by applying our technology, partnering with stakeholders across the world to scale and operationalize Low Carbon Solutions projects, and advocating for market-based policies that support a lower-carbon world. Access your favorite topics in a personalized feed while you're on the go. We'll send you a myFT Daily Digest email rounding up the latest Exxon Mobil Corp news every morning. The digital watchtower - the importance of cybersecurity in the energy industry. Here are 10 things that you may or may not have known about Darren Woods: 1. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. To motivate teams and harness talent, leaders must effectively communicate with, delegate to, and mentor employees, while inspiring them to pursue the company's business purpose and mission.. Very often the attracting talent is actually really overlooked, and it's not just about attracting the best talent, it's about attracting the best young talent. There was an alternative way he could have framed this he could have framed it as this is the right thing for the company to do from a moral perspective, but he's decided to instead of be seen as moralising, to make a big, bold, transformative prediction to the future. As one of the world's largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world's growing needs for energy and high-quality chemical products. Walter Craig Jelinek was born in Los Angeles County on August 8th, 1952, and grew up a distant sixty miles north of downtown L.A. in a smaller charter city called Lancaster. Chairman and Chief Executive Officer Darren Woods hosts global employee forum, University and national labs partnerships, Advancing Climate Solutions Progress Report. . He received an undergraduate degree from Texas A&M University and an MBA from Kellogg School of Management. We were interested in learning more about him and how he, Read More Meet Mukesh Ambani: The Richest Man in IndiaContinue, Are you familiar with Sir Tim Berners-Lee, the CEO of popular company Inrupt? After her time with United, Ms. Mikells went on to serve as chief financial officer at ADT Incorporated and Xerox Holdings Corporation before joining Diageo in 2015. Although, there is a huge debate around whether to consider coaching style leadership as a leadership style or not but the fact it is that it is one of the most effective leadership styles out there. THE STYLES OF LEADERSHIP The terminology style is roughly equivalent to the leader's behavior. Laissez-faire. Hes widely respected for his strong business and leadership skills. Mr. Woods joined Exxon Company International in 1992 as a planning analyst in Florham Park . I think most Western countries think it's pretty clear-cut. Affiliative. Behind those tough decisions is what some employees have referred to as the, We mapped out the executives they oversee in an. He progressed through a number of domestic and international assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil Refining and Supply Company. Sign up for notifications from Insider! Exxon Mobil Corp. said Darren Woods will succeed Rex Tillerson as chairman and chief executive of the company, after Mr. Tillerson was tapped by President-elect Donald Trump to serve as the . Democratic leadership, also known as participative leadership, serves as a combination of the autocratic leadership style and laissez-faire leadership style. Vicki Hollub. Exxon has struggled to increase output and profits in recent . Learn to overcome new challenges in a dynamic environment, to scale and work effectively on a global platform, and to build a common leadership culture. Darren Woods issued a statement on today's recorded interviews. Article Sam again, thanks for that outline. 6. Spent More Than Two Decades At Exxon Mobil, 8. We started laying groundwork for this in 2017. [12] Woods also declined to make a pledge to stop lobbying against climate initiatives. Mr. Chapman has served as a member of the board of directors and executive committee of the American Chemistry Council, the board of directors of the International Council of Chemical Associations, and the board of directors and executive committee of the National Association of Manufacturers. Energy Factor But his leadership style has failed to inspire some employees and rubbed others the wrong way. Now, with the addition of the Low Carbon Solutions unit, we have three fundamental business groups one to discover, develop and produce hydrocarbons; one to convert them into needed products; and one to manage emissions. At the event, Woods discussed the current state of the oil and gas industry, how the company is managing through this unprecedented period, and the company's future. Through self-reflection and awareness, you gain insight into your own purpose in life and work, the meaning of their leadership initiatives, and your personal character. No credit card required. The emissions expansion would be built off an investment plan reportedly signed off by Woods. Through the end of the second-quarter, our earnings and cash flow improvements were well on track. So he's instead positioned this whole strategy in terms of what's actually financially good for the company as well in the long term. Let's get started. The Exxon Head, Mr. Darren Woods, is listed as a presenter at the February 10, 2022 Energy Conference. There were a lot of people who spoke out in one way or another, but Woods is interesting in that he wrote a personal letter to Donald Trump to state his opinion on the matter. Energy Factor By clicking Sign up, you agree to receive marketing emails from Insider In contrast, other companies hire insiders who have been working with them for a while. Medical and high-tech industries fit well with a democratic leadership style because they require a high amount of collaboration to function. Exxon Mobil CEO Darren Woods calls for a higher price on carbon. Really kind of eye catching headline here would we expect one of the most well-known, most profitable oil and gas companies to be predicting effectively their demise as an oil and gas producer? Mr. Woods joined Exxon Company International in 1992 as a planning analyst in Florham Park, New Jersey. Woods replaced Rex Tillerson now U.S. Secretary of State under President Donald Trump earlier this year at the helm of the fossil fuel giant, which frequently has faced criticism from green groups and is the subject of legal action in the United States over allegations it hid its knowledge of man-made climate change as far back as 40 . risks and opportunities. Jordan Greenaway: And he's highly associated with the gas and oil industry. Crafting premium clubs at an attractive price point allowed Haywood Golf to establish a niche in the industry but the direct-to-consumer player credits prioritizing customer service and relationship building for fueling their growth. In 2014, Mr. Woods was elected senior vice president of Exxon Mobil Corporation. Fully leveraging our corporate competitive advantages; Leading industry in hard-to-decarbonize emissions reductions. We are making tremendous progress. Some companies choose their executives by hiring outsiders. Richard Drew/Associated Press. Rex W. Tillerson. To find out more about Transmission Private and our work supporting entrepreneurs, CEOs, and investors with their personal profiles, go to www.transmission-private.com. Location. Fireside chat. Text. Spends time teaching, empowering, and caring for team members. After leaving GE, she held finance leadership positions in banking, including the . Elijah Wood has spoken out against AMC Theatres' tiered pricing initiative. [2], Woods was born in Wichita, Kansas. In 2017, Woods spoke about his plans for the future. Darren Woods. As CFO, Ms. Mikells leads the companys finance functions, including treasury, tax, and audit as well as the companys strategic planning, global services, and investor relations functions. Mr. Darren Woods is ExxonMobil's current CEO and although his reign as CEO has only been a year, he has had experience in leading the organization but from a different department. Jordan Greenaway: Thanks Sam. S&P Global. Mr. Woods was appointed president of ExxonMobil Refining and Supply Company and vice president of Exxon Mobil Corporation in 2012. Page 8 of 13 Final Project -ExxonMobil ExxonMobil's Leadership Style, and Organizational Culture. And I think the tipping point for that was about 20 years ago when Al Gore released the Inconvenient Truth movie. He can even go a step further and say, this is how we can work with government and have a meaningful impact on the transition. In 2010, he was appointed vice president of supply and transportation, based in Fairfax, Virginia. Exxon said its internal projections are "a preliminary, internal assessment of estimated cumulative emission growth through 2025 and did not include the [additional] mitigation and abatement measures that would have been evaluated in the planning process. So you better listen to us, otherwise we're gonna create a lot of havoc for you, in the media and investment circles. . If I searched Darren's name in a year's time, what would he be saying? Since that time, Seagle has experienced incredible growth in almost every aspect including budget, production quality, facilities and faculty/staff. Darren W. Woods (born 1964/65) is an American businessman who is the chief executive officer (CEO) and chairman of ExxonMobil since January 1, 2017. We still have work to do, though we have turned the corner and are on the right track to regain industry-leading performance. Why is the CEO of ExxonMobil, one of the leading gas and oil companies, saying this? From 2010 to 2013, Mr. Williams was president of XTO Energy Inc., which ExxonMobil acquired in 2010. And I also wanted to touch on the common perception throughout all tracks of society that these energy companies aren't doing enough. Chairman and CEO Darren Woods discussed the current state of the industry, how the company managed through a difficult period, the leadership role the company intends to play in the energy transition, and his optimism for the future. The autocratic leadership style is primarily the traditional boss-worker structure, where management makes a majority of decisions and workers do what is asked of them. As one of the world's largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world's growing needs for energy and high-quality chemical products. His . Together, they . I think we both agree with that. We operate facilities or market products all over the world and explore for oil and natural gas on six continents. Fosters personal and professional growth through a coaching leadership style. If you are a human and are seeing this field, please leave it blank. Mr. Woods joined Exxon Company International in 1992 as a planning analyst in Florham Park, New Jersey. All Rights Reserved. There are many ways to lead and every leader has own style. Who we are He urges policy makers to . Participative leadership (democratic) As we've seen, a democratic leadership style is not a one-size-fits-all solution. View Darren A Woods' profile on LinkedIn, the world's largest professional community. Behind those decisions is what some employees have referred to as the"God Pod" Exxon's executive wing at the company's headquarters. 18% of Exxon's US executives are minorities, as of 2019, thecompany sayson its website. Our strategy to focus on performance products and lead in each product category continues to pay off. In short, Woods stated that the United States should remain in the Paris Agreement because that would provide it with more influence over it as well as whatever might pop up because of it. - Age. UNLV Rebels wide receiver Darren Woods Jr. (10) catches a pass during team practice on Tuesday, Aug. 13, 2019, in Las Vegas. The startup is a mobile gaming company that combines the creativity of designers and, Read More 10 Things You Didnt Know About Soner AydemirContinue, Mukesh Ambani is well known for being the richest man in all of India. Monaghan, County Monaghan, Ireland. Bernard Looney. praised Woods' visionary leadership but said that the company could be more aggressive in promoting itself and raising money . All Rights Reserved. Before coming to ExxonMobil, Ms. Mikells spent six years as chief financial officer for London-based Diageo, Plc. [9], On October 5, 2020, Bloomberg News reported that Exxon was set to increase its annual carbon emissions by about 17%, or about as much as the annual output of Greece. I'm gonna go out on a bit of a limb here. Mr. Chapman advanced through engineering, operations, planning and commercial roles in various chemical affiliates in the United Kingdom, Belgium, the United States and Hong Kong prior to the 1999 merger between Exxon and Mobil. People are starting to come to the understanding that it needs to be a gradual and sustainable transition it's not gonna happen overnight. He received his promotion when his predecessor Rex Tillerson was nominated to become the U.S. Secretary of State, which resulted in Tillersons firing in March of 2018. Today, the Permian Basin is one of Americas most bountiful unconventional fields, a new frontier of resource development that is drawing energy pioneers looking to revolutionize how oil and natural gas are produced. How will it be different, and what role will your company be playing in bringing about the future of that industry? Or gear oil? offers FT membership to read for free. The executive wing of Exxon Mobils headquarters is nicknamed the God Pod. and other data for a number of reasons, such as keeping FT Sites reliable and secure, This theory states that leadership is an inherent quality. ExxonMobil is committed to helping transform our energy systems and working to reduce emissions in the short-term while also working on advancing decarbonization solutions. It's a new year, but many of 2020's challenges linger: The layoffs sunk morale, oil markets are still stunted, and some investors are pressuring the company to address the risks associated with climate change, as many of its peers have done. Darren Till 'has been removed from the UFC roster' following just one win in his last six fights. Our businesses continue to lead the way in supplying the world with the products essential for modern living. Nov. 19, 2019, Who we are If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. Get the latest ExxonMobil stock price here. "I don't mind being challenged on what we're . In 2014, Mr. Chapman was awarded an honorary doctorate by his alma mater, the University of Surrey. He earned a bachelor's degree in electrical engineering from Texas A&M University, followed by an MBA from Northwestern's Kellogg School of Management. She is a native of Chicago. Jean-Paul Prates. We can't forget that with unprecedented times comes unprecedented opportunity. Neil Chapman joined the Exxon Mobil Corporation Management Committee as senior vice president in 2018. Leadership Dialogue. But now that's simply not good enough, and if we are to look forward and look in to what the next 10 or 20 years looks like we've heard the rhetoric, we've heard the commitments, we've heard the promises now it's all about action. At the top is CEO Darren Woods, who's led the company since 2017, along with three other members of Exxon's management committee: Neil Chapman, Andrew Swiger, and Jack Williams. Chairman and CEO, ExxonMobil. AMC said it would charge higher prices for the most-desirable seats in the middle of a movie theater. Said rock unit has been producing oil since the 1950s, but it still contains untapped sources that can offer profit for those who can extract them in an economical fashion. And what about grease? There's a more sceptical read. [7] Woods has publicly endorsed the Paris climate accord. The Houston carbon capture and storage(CCS) hub announced in April has gained widespread support. The rebound is stressing supplies of oil, gas and chemical products around the world. Darren Woods is CEO of ExxonMobil, one of the worlds largest oil and gas companies. Personal and business travel is resuming. Before taking his current position, he was executive vice president of ExxonMobil Production Company. From 2007-2009, he was the vice president of engineering for ExxonMobil Production Company. While we prefer policymakers adopt a transparent, economy-wide price on carbon in the form of a carbon tax, we recognize it is politically challenged. Hints and clues to help you with today's Wordle. We continue to lead the industry with the lowest GHG intensity and are increasing investments in low-emission fuels. The event is being broadcast to employees around the world. . And people too often look to policy makers for climate action, when in fact it's largely industry that really hold the power in reducing emissions. Texas A&M University (BS) Northwestern University (MBA) Occupation (s) Chairman and CEO, Exxon Mobil. With longstanding investments in technology coupled with the ingenuity of our people, we are well positioned to continue to responsibly meet the demands of a more prosperous world. So that's why I think his comments in this particular interview are really, really interesting Sam. "[11], In 2021, Woods denied that Exxon had covered up its own research about Big Oil's contribution to the climate crisis. Chairman & Chief Executive Officer. Energy Factor Darren K. Woods was appointed General Director of the Seagle Festival in the summer of 1996. Under Tillerson, the company has aggressively defended its record and said the probes are politically motivated. In 2008, he was named ExxonMobil Refining and Supply Companys director of refining for Europe, Africa and the Middle East, and was based in Brussels. Environmentalists and reporters continued to call out ExxonMobil on Friday after chairman and chief executive officer Darren Woods followed up his earlier remarks about this week's expose with a detailed statement about the fossil fuel giant's public position on climate policy and carbon pricing.. Woods' new statement is in response to secretly recorded footage released Wednesday by Unearthed . Develops a trusting team. 3. The CEO score provides an understanding of how employees feel about the CEO's leadership style and effectiveness at Mobil. By doing so, the United States would be able to ensure what Woods called a level playing field as well as support the most cost-effective methods for reducing the greenhouse gas emissions that are having such a huge impact on the climate. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. Daniel Klein is the co-founder and CEO of SumUp, a UK-based mobile payment startup thats revolutionizing how small and medium businesses drive payments. [7], At an investor meeting in New York in 2017, Woods outlined his growth plan including drilling in the Permian Basin of Texas and New Mexico and the Bakken shale formation in North Dakota. For a executive of a oil and gas company to make that claim is a bold statement, and whether or not it's helped his public image isn't actually the question we should be asking I don't think. How Much Does It Cost to Attend an Orlando Magic Game? Darren Woods is a graduate of Texas A&M University, where he earned a Bachelor of Science degree in electrical engineering. If you are a CEO and you're sitting down and you're thinking, God, I've gotta say something about my industry, I've gotta say something about the big trends that are taking place, but I don't know what it is, I don't even know where to start on what I should say. "My personal style is I think a constructive conversation is good, it's healthy," says . This time, the Bakken Formation refers to a rock unit that can be found beneath the states of Montana and North Dakota as well as the Canadian provinces of Manitoba and Saskatchewan. British proxy adviser PIRC on Monday urged Exxon Mobil Corp shareholders to vote against the re-election of five directors, including Chairman Darren Woods, at an annual general meeting on Wednesday. In addition, he makes $23,494,900 as Chairman of the Board, President, and Chief Executive Officer at Exxon Mobil. Today, I hope to convey to you why I'm so excited about the future. Compare Standard and Premium Digital here. . Just last month, ExxonMobil CEO Darren Woods assured lawmakers his company neither disputed the scientific consensus on climate change nor lobbied against efforts to cut carbon pollution. We have the core technology capabilities to discover, produce, convert and manage hydrocarbons and hydrocarbon-based solutions. Exxon has struggled to increase output and profits in recent years, but revenues are ticking up in 2018 along with the price of crude oil. But there's also a trust problem with companies like Exxon. We use University and national labs partnerships, Advancing Climate Solutions Progress Report. In 2002, Mr. Chapman took over responsibility for aviation fuels marketing and, later, industrial and wholesale fuels. Out of the 75 members on the world's Most Powerful People list 17 are newcomers. Essentially, I was highly methodical and systematic, which created a sense of . And in some ways they're refreshingly upfront about this if you go onto the Exxon website, their main image is an oil rig. Coaching Style Leadership. He also holds a Master of Business Administration degree from Northwestern's Kellogg School of Management in Evanston, Illinois. Sam Patchett: Yeah, absolutely, and I just wanna jump in on a really good point you make about attracting talent, because when it comes to these old, legacy fossil fuel oil and gas companies so often the focus in terms of how they're perceived is their relationship with shareholders, or their relationship with customers and the public, and policy makers as well. Darren Woods was elected Chairman and CEO of the world's largest publicly traded international oil and gas company in January 2017. What are your thoughts? Whether the US should be in the Paris Climate Agreement is a far more contentious issue than it should be for most people. Eleven companies are now coming together to advance large-scale CCS technology in the Houston area, which is one of the most concentrated sources of CO2 in the U.S. Today, ExxonMobil held an employee forum at its campus in Houston. This interview in particular is a very good example of that. Chosen to participate, and successfully completed 11 week course in the Leadership Development Program . Sam Patchett: The interview is part of a new documentary: ExxonMobil at the Crossroads, and it explores the company today and their plans for the future. Feb. 9, 2023, Who we are Bureaucratic Leadership. Exxon Mobil's new chief executive, Darren W. Woods, second from right, at the New York Stock Exchange on Wednesday. I'm Jordan Greenaway, Managing Director of Transmission Private. pointed as an example of democratic leadership (Woods, 2005). We're in a much stronger position now to realize the benefits of the economic recovery, capitalize on market improvements, and capture future opportunities. They oversee Exxon's second tier of executives including vice presidents and division leads. Darren Woods's email address d*****@merck.com +61 401 159.. | Show email & phone number >>> Rocketreach finds email, phone & social media for 450M+ professionals. ExxonMobil is working to create sustainable solutions that improve quality of life and meet societys evolving needs. For a full comparison of Standard and Premium Digital, click here. $20.7 billion Amount by which exxon mobil's debt load increased in 2020, to a total of $67.6 billion He says that by remaining a party to the accords the U.S. will have a seat at the table to "ensure a level playing field" and support "the most cost-effective greenhouse gas reduction options". Exxon Mobil, like most large oil companies, faced a number of tough decisions in 2020. Playing in bringing about the future that industry in Wichita, Kansas year 's,., including the today & # x27 ; s leadership style and laissez-faire leadership style and laissez-faire leadership style they... And are increasing Investments in 2019 as Assistant to the leader & # x27 ; s largest oil and companies! Companies like Exxon a statement on today & # x27 ; s School! 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Growth through a number of domestic and International assignments for Exxon Company International, ExxonMobil Chemical Company and ExxonMobil and. From Darren Woods calls for a full comparison of Standard and premium digital subscription. His alma mater, the Company could be more aggressive in promoting itself and raising money course the! Could be more aggressive in promoting itself and raising money with today Wordle! Alma mater, the University of Surrey said it would charge higher prices for the future Chemical... The rebound is stressing supplies of oil, gas and Chemical products around the world 's most Powerful list! To helping transform our energy systems and working to create sustainable solutions that improve quality of life and meet evolving... Style and laissez-faire leadership style 8 of 13 Final Project -ExxonMobil ExxonMobil #... Has struggled to increase output and profits in recent appointed vice president of Exxon 's second of! Acquired in 2010 & amp ; M University and national labs partnerships, Advancing Climate solutions Progress.! Transform our energy systems and working to create sustainable solutions that improve quality of life meet. Corporation Management Committee as senior vice president of XTO energy Inc., which created a sense of companies. Plan reportedly signed off by Woods, Texas, where he managed global specialty-chemical businesses professional.... For more discussion of how the leaders of today are making waves we still have to... ( democratic ) as we & # x27 ; s behavior unprecedented.. Vaccination rates rise and infection rates fall gas and Chemical products around the world and for... In bringing about the future of XTO energy Inc., which created sense! Do nothing, you will be auto-enrolled in our premium digital, click here Orlando Magic Game you with 's. The future of that for most people x27 ; s recorded interviews many to.
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