President-elect Donald Trump has formally selected ExxonMobil CEO Rex Tillerson as his nominee for Secretary of State.

"Rex Tillerson’s career is the embodiment of the American dream," Trump said in a statement. "Through hard work, dedication and smart deal making, Rex rose through the ranks to become CEO of ExxonMobil, one of the world’s largest and most respected companies. His tenacity, broad experience and deep understanding of geopolitics make him an excellent choice for Secretary of State. He will promote regional stability and focus on the core national security interests of the United States."