Tillerson will relinquish control of a quarter-billion dollar nest egg amassed over four decades at Exxon Mobil Corp. to avoid a conflict of interest during his confirmation hearings to become U.S. President-elect Donald Trump’s secretary of state. If confirmed, the former Exxon chairman and chief executive officer will convert about 2 million deferred shares to cash that will be surrendered to an independently managed trust, the company said in a statement dated Tuesday. Tillerson also will sell more than 600,000 shares he already owns in North America’s largest oil explorer, abandon $4.1 million in cash bonuses he would have been paid over the next three years and take a $3 million haircut on the restricted stock payout. To avoid a conflict of interest with the multinational corporation he joined in 1975 and led for 11 years starting in 2006, Tillerson needed to work […]