By Maria Armental 
 

The head of Exxon Mobil Corp.'s chemical business will retire Jan. 1, the company said Friday.

Stephen D. Pryor, 64 years old, joined Mobil Corp. in 1971.

Exxon said in a prepared statement Neil A. Chapman, 52, senior vice president at ExxonMobil Chemical, is expected to succeed Mr. Pryor.

The nation's largest energy company, Exxon's results have benefited from gains in its oil-refining business, which helped the Irving, Texas, multinational ride oil price swings.

Shares closed up Friday at $96.81, down 4% for the year.

Write to Maria Armental at maria.armental@wsj.com

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