Pioneer Founder Sheffield No Longer Wants to Join Exxon Board After FTC Ruling

Longtime shale boss Scott Sheffield said he’s no longer interested in joining Exxon Mobil Corp.’s board after the US Federal Trade Commission set aside orders barring the founder of Pioneer Natural Resources Co. from the oil giant.

The agency, which on Thursday also cleared the way for Hess Corp. Chief Executive Officer John Hess to join Chevron Corp.’s board, had blocked both executives saying they sought to communicate with OPEC about oil pricing and output.