By Angela Chen
Exxon Mobil Corp. Chief Executive Rex Tillerson received
compensation valued at $33 million last year, up 18% from $28
million given in 2013.
Mr. Tillerson saw his base salary increase slightly to $2.8
million from $2.7 million in 2013. His bonus and stock awards were
largely the same. However, the value of Tillerson's pension
benefits increased by $4.6 million, compared with 2013.
In February, Irving, Texas-based Exxon Mobil, the biggest and
richest U.S. oil company, reported that its quarterly profit
dropped 21% as production declined.
Despite generating $87.3 billion in revenue last year, Exxon's
cash flow in the last three months of 2014 fell to its lowest level
since recession-wracked 2009. The company said it would cut
spending on share buybacks as it searches for ways to cut
costs.
In comparison with Mr. Tillerson, Chevron Corp. CEO John S.
Watson was given pay valued at $26 million in 2014, up about 8%
from $24 million the year before. The biggest increase was also in
Mr. Watson's pension benefits.
Write to Angela Chen at angela.chen@dowjones.com
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