Exxon Mobil raises salaries of top managers
2022.12.05 09:06
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Exxon Mobil raises salaries of top managers
Budrigannews.com – The largest oil company in the United States, Exxon Mobil, announced on Monday that it will increase the base salaries of its top executives and other executives for the upcoming year.
Exxon Mobil (NYSE:) According to a filing, Chief Executive Officer Darren Woods’s annual salary was approved by the compensation committee to rise to $1.88 million from $1.70 million this year.
In 2023, Kathryn Mikells, who took over as the company’s chief financial officer in August of last year, will be paid $1.22 million as her base salary.
Additionally, on January 1, 2023, the company increased the salaries of its senior vice presidents.
However, stock awards and bonuses make up a larger portion of the total compensation that Exxon’s executives receive each year than base salaries do.
Woods received total compensation of $23.6 million in 2021 and $15.6 million in 2020 from the oil major with its headquarters in Houston.
The oil major announced record quarterly profits just one month after the pay raises, as sanctions on Russia caused crude and gas prices to soar this year to unimaginable heights.
The oil business’ bonus benefits this year has drawn in the consideration of U.S. President Joe Biden, who has blamed the area for war exploitative and said Exxon was making “more cash than God”.
Biden has repeatedly urged American oil and gas companies to make the most of their record profits by increasing production and lowering prices at the pump for consumers.
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