Holy Moly

Posted on April 18, 2006
Tags: Companies |

US$200,000 a day.. ($48.5 million in salary, bonuses, incentive payments and stock awards.) that’s what ex ExxonMobil CEO took home. Plus another $98 million in pension payout.

In this year’s proxy statement, Exxon defended the package by saying it rewards Raymond’s “outstanding leadership of the business, continued strengthening of our worldwide competitive position, and continuing progress toward achieving long-range strategic goals.” Raymond had been CEO since 1993 before stepping down at the end of last year.

Yep it must be that outstanding leadership thing that led them to earn $36 billion last year.. sure.

Comments

3 Responses to “Holy Moly”

richard on April 18th, 2006 11:09 pm

Wow….I suppose if the leadership were mediocre they’d only have given him $50,000 a day. He probably woke up every morning in a cold sweat, wondering how he’d make ends meet if his leadership faltered.

Very interesting!
eyal on April 19th, 2006 1:54 am

Yeah, I bet if you gave someone 200K a day for a while and then dropped it to 50K then that person would really feel bad.. isn’t that amazing.
Scott on April 19th, 2006 7:53 am

Hey, they don’t call it “big oil” for nothing. Over his twelve year tenure, the stock went from roughly $15 to $60 per share. Doesn’t look like his owners did quite as well as he did.