Exxon's Tillerson gets $4 million bonus in 2008, pay hike

[OhioChick]

Source: Reuters

3 Dec 2008, 0405 hrs IST, REUTERS

HOUSTON: The chief executive officer of US oil major Exxon Mobil Corp was awarded a $4 million bonus in 2008 and will receive a 10 percent increase
in his annual salary in 2009, according to a regulatory filing.

Rex Tillerson, the chief of the world's largest publicly traded company, was also granted 225,000 shares of restricted stock, a filing with the US Securities and Exchange Commission showed.

As of January 1, the executive's salary will be $2.06 million.

Last year, Tillerson received a bonus of $3.4 million and his salary was $1.87 million. At that time, Tillerson was granted 185,000 shares of restricted stock.

Shares of Exxon climbed 3.4 percent to $76.81 in late trading on the New York Stock Exchange. So far this year, the stock has fallen about 18 percent, outperforming an 39 percent drop in the Chicago Board Options index of oil companies.

Read more: http://economictimes.indiatimes.com/International_Business/Exxons_CEO_gets_4_mn_bonus/articleshow/3786419.cms

[Wickerman]

1. Yeah, but how much of that goes straight off the top to Cheney? n/t

[Azlady]

2. No kidding! N/T

[hendo]

3. Well

His company did do well this year. It isn't nearly as bad as the bonuses that were paid out to auto industry execs.

[tclambert]

4. Did well? His company has done more harm to America and the world than anyone except GWB

Osama bin Laden is small time compared to these guys. Our energy policy for the past 30 years should have been to utterly destroy Exxon Mobil.

[OhioChick]

5. You did forget the sarcasm emoticon, right? n/t

[hendo]

6. I don't like letting everyone off the hook that easily.

however, he did make money for his company, something that the auto execs did not.

[OhioChick]

7. Tillerson made his money for the company

By screwing all of us.

[hendo]

8. screwing us all

was part of his job description.

[OhioChick]

9. Pathetic, wouldn't you say? n/t

[hendo]

10. Pathetic

that it was part of his job description, yes.

However, bonuses are often paid for someone doing thier job well. And arguably, he did his job very well.

[OhioChick]

11. I believe he had some help with doing "his job so well."

White House, perhaps?

[ihavenobias]

12. K & R