Exxon CEO Had a $16.7 Million Year

I wonder how much shares John Key has in his portfolio, I would love to ask him, but like with many other questions I don’t think he will answer them don’t you?

How much compensation befits the chief executive who delivered the most profitable year ever for a U.S. company?

For the Exxon Mobil Corp. board of directors, the answer was a $16.7 million compensation package for Chairman and CEO Rex Tillerson, up 28.6% from a year earlier.

[Rex Tillerson]

But the Exxon board didn’t increase the amount of restricted stock it awarded Mr. Tillerson. And it stopped reimbursing all top executives for their country-club memberships.

Exxon Mobil, which finds and produces oil and natural gas as well as operates large refining and chemicals businesses, had a very good year. It reported a record $40.61 billion profit, and much of the profit was due to the rising value of a barrel of oil, something that neither Mr. Tillerson nor Exxon has much control over. The benchmark cost of a barrel of oil started the year below $60 per barrel and ended near $100.

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