ExxonMobil CEO Gets Pay Raise

December 5, 2022

 ©Katherine Welles/AdobeStock
©Katherine Welles/AdobeStock

Exxon Mobil Corp XOM.N is raising the annual salaries of its top boss and other executives for the coming year, the top U.S. oil company said on Monday.

Exxon Mobil's compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million paid this year, it said in a filing on Monday. 

The company also raised the pay of its chief financial officer and senior vice presidents. The new salaries are effective Jan. 1, 2023. The pay hikes come barely a month after the oil major posted record quarterly profits as sanctions on Russia sent crude and gas prices soaring this year.

The oil industry's windfall profit this year has attracted attention from even U.S. President Joe Biden, who has accused it of war profiteering and said earlier this year that Exxon was making "more money than God." 

The president has repeatedly called on U.S. oil and gas companies to use their record profits to increase production and reduce pump prices for Americans. 

(Reuters - Reporting by Ruhi Soni in Bengaluru; Editing by Savio D'Souza and Anil D'Silva)



Current News

Intelatus: A Month of Contrasts for U.S. Offshore Wind

Intelatus: A Month of Contrasts for U.S. Offshore Wind

Ørsted Extends Edda Mistral SOV Charter

Ørsted Extends Edda Mistral SOV Charter

Synthetic Tendons for MPS' Floating Wind Tension Leg Platform

Synthetic Tendons for MPS' Floating Wind Tension Leg Platform

Evonik Commits to Buy More Power from He Dreight Offshore Wind Farm

Evonik Commits to Buy More Power from He Dreight Offshore Wind Farm

Subscribe for OE Digital E‑News

Offshore Engineer Magazine