Tillerson’s exit won’t affect deal he struck with Exxon

WASHINGTON — Although Rex Tillerson spent just over a year as America’s chief diplomat, he’ll continue to benefit from an arrangement he crafted with his former employer, energy giant Exxon Mobil, that could generate millions of dollars in tax savings.

Tillerson, who was Exxon’s CEO when U.S. President Donald Trump selected him to be his secretary of state, worked out a $180-million retirement package with the company that also met the U.S. government’s conflict of interest requirements. The arrangement won’t be affected by Trump’s decision to fire Tillerson, which the president announced on Tuesday.

“He got a sweetheart deal from Exxon,” said Steve Rosenthal, a senior fellow at the Urban-Brookings Tax Policy Center.