James E. Bayne, manager, benefits finance and investment at Exxon...

James E. Bayne, manager, benefits finance and investment at Exxon Mobil Corp., Irving, Texas, will retire effective Jan. 1. He managed the employee benefit funds for Exxon Corp. prior to its 1999 merger with Mobil Oil Corp., and coordinated the consolidation of the two companies’ benefit assets to a single $6.8 billion defined benefit plan and a $16 billion defined contribution plan. He will be replaced by Steve Penrose, Exxon Mobil business services operations manager in the United Kingdom. Mr. Bayne said he plans to complete construction on a "couple” of new homes and will work "part time” with the San Francisco-based venture capital firm of Horsley Bridge Partners Inc., one of Exxon Mobil’s asset management firms.