Exxon Mobil Corp (NYSE:XOM) chief executive officer Rex Tillerson has reportedly received a salary increase of 8 percent for 2011, along with an increase in his bonus of 40 percent.
Tillerson was awarded a bonus of $3.36 million in 2010, up significantly from the $2.4 million he received in 2009. That was according to a required regulatory filing with the U.S Securities and Exchange Commission.
The filing noted that 50 percent of the bonus will be paid out in cash at the end of 2010, while the rest of it will be based on the performance of EPS on a quarterly basis.
Salary for Tillerson was bumped up from $2.2 million in 2010 to $2.39 million in 2011.
Also awarded by the board of directors to the CEO was 225,000 shares of restricted stock, 50 percent of which can't be cashed in for 5 years. The other 50 percent must be held for 10 years before being allowed to sell it.
Exxon was trading at $71.48, gaining $1.92, or 2.76 percent at 2:47 PM EST.
Showing posts with label Rex Tillerson. Show all posts
Showing posts with label Rex Tillerson. Show all posts
Wednesday, December 1, 2010
Saturday, May 29, 2010
Exxon Mobil (NYSE:XOM) CEO Heads Boy Scouts
The Boy Scouts of America has named Exxon Mobil (NYSE:XOM) Rex Tillerson as their new president.
Tillerson will become the 33rd president of the organization, which is 100 years old. Tillerson himself was once an Eagle Scout.
Now that he has officially stepped into his new role, one of his goals is to generate excitement about the 100th anniversary of the Scouts this year.
Tillerson said, “The investment with the greatest return is the one we make in our country’s youth. Scouting provides opportunities for young people to experience and understand the world around them — not only making them better citizens, but more successful contributors to the workforce. I can speak to the power of those lessons — I am a product of the Scouting program. I apply the values and principles I learned as a Scout on a daily basis.”
Tillerson will become the 33rd president of the organization, which is 100 years old. Tillerson himself was once an Eagle Scout.
Now that he has officially stepped into his new role, one of his goals is to generate excitement about the 100th anniversary of the Scouts this year.
Tillerson said, “The investment with the greatest return is the one we make in our country’s youth. Scouting provides opportunities for young people to experience and understand the world around them — not only making them better citizens, but more successful contributors to the workforce. I can speak to the power of those lessons — I am a product of the Scouting program. I apply the values and principles I learned as a Scout on a daily basis.”
Tuesday, April 13, 2010
Exxon (NYSE:XOM) CEO's Pay Drops
Exxon Mobil CEO Compensation
Chairman and CEO of Exxon (NYSE:XOM) Rex Tillerson got a pay cut in 2009, in line with the slower earnings of the company, which dropped by 9 percent during that time.
In 2008 Tillerson received $23.92 million in overall compensation, while in 2009 that dropped to $21.7 million.
Most of the loss in pay came from his bonus, which was based on performance. Most of the $21.7 million came from stock awards, and his salary did get a 10 percent bump up to $2.057 million, according to a filing by Exxon Mobil with the Securities and Exchange Commission.
Similar to other energy companies in 2009, Exxon Mobil was savaged by low gas prices earlier in the year and a drop in demand for gasoline as recession-weary consumers stayed home because of the lack of money and concerns over what was going to happen.
Chairman and CEO of Exxon (NYSE:XOM) Rex Tillerson got a pay cut in 2009, in line with the slower earnings of the company, which dropped by 9 percent during that time.
In 2008 Tillerson received $23.92 million in overall compensation, while in 2009 that dropped to $21.7 million.
Most of the loss in pay came from his bonus, which was based on performance. Most of the $21.7 million came from stock awards, and his salary did get a 10 percent bump up to $2.057 million, according to a filing by Exxon Mobil with the Securities and Exchange Commission.
Similar to other energy companies in 2009, Exxon Mobil was savaged by low gas prices earlier in the year and a drop in demand for gasoline as recession-weary consumers stayed home because of the lack of money and concerns over what was going to happen.
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