Exxon CEO pay up nearly 18 percent in 2007

[UpInArms]

Source: Reuters

NEW YORK (Reuters) - Exxon Mobil Corp (XOM.N) Chief Executive Rex Tillerson's compensation rose nearly 18 percent to $21.7 million in 2007, when the oil company pulled in the largest profit ever for a U.S. company.

Tillerson, chief executive of the world's largest publicly traded company, took home a pay package that included $1.75 million in salary, a $3.36 million bonus, and $16.1 million of stock and option awards, according to a company filing with the U.S. Securities and Exchange Commission.

He also received nearly $430,000 of other compensation, including $229,331 for personal security and $41,122 for use of the company aircraft.

Exxon Mobil earned $40.61 billion in 2007, up 3 percent from the previous year. The company's shares rose 22 percent during that period.

Still, Tillerson's 2007 pay was not even the highest mark for the U.S. oil and gas industry. Occidental Petroleum Corp (OXY.N) CEO Ray Irani made $33.6 million and Anadarko Petroleum Corp (APC.N) chief James Hackett took in $26.7 million over the same period.

In addition to his pay package, Tillerson, 56, received more than $7.6 million from exercising options and stock awards during the year.

Read more: http://news.yahoo.com/s/nm/20080410/bs_nm/exxon_compensation_dc

[ashling]

1. Whew! I am glad to hear this

because, you know, I was beginning to be concerned that our price gouging, fat cat, soul-less oil company executives might not be making enough :sarcasm:

[Sherman A1]

2. My thoughts Exactly!

I would hate to think that they would suffer during this economic downturn.



:nopity:

[bulloney]

3. Does anyone really work that hard, or have that much responsibility to really make that much?

I may sound like a socialist, but executive pay has gotten so far out of whack compared to what working-class people make, we've created a society that has completely lost perspective of life on this planet.

[arundhatiroyfan]

7. They are paid too much imo.

It is getting out of hand.

[Eagle_Eye]

4. Rex needs a tax hike. Mr. Rex Tillerson needs a tax increase of about 36%

[ck4829]

5. But... but... but the Republicans tell us they need the profits

So they can do something good with it.

[lonestarnot]

6. so is Rex singlehandely keeping the stock market propped up?

[Buns_of_Fire]

8. ONLY $229,331 for "personal security"?????

Those "gated communities" are gonna need MUCH higher gates if things keep going like they are now. (I wonder if Rex would taste better as Rex-B-Que or as Rexburgers? :evilgrin: )

[Enthusiast]

9. This is the greed that knows no bounds

They will kill the goose that laid the golden egg.