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Exxon Mobil (NYSE:XOM) disclosed CEO Darren Woods’ complete compensation rose 2.8% to $36.9M final yr, in response to a brand new SEC submitting Thursday.
Woods’ base wage was price ~$1.9M, with the overwhelming majority of his pay bundle primarily based on variable components akin to a $4.8M bonus and stock-based awards.
The CEO’s complete pay was 199x the median pay for an Exxon (XOM) employee, which improved 8% to $185,376.
Chevron (CVX) reported CEO Michael Wirth’s complete 2023 compensation elevated 12.2% to $26.5M, or equal to ~150x the $175,673 common pay for the corporate’s staff.
The pay packages for the U.S. supermajors far exceeded their European counterparts, as Shell (SHEL) CEO Wael Sawan collected ~$9.9M and BP (BP) boss Murray Auchincloss, who took the helm in September, made ~$10M.
The discrepancy comes because the European corporations are more and more seen as “massively undervalued” – Exxon’s (XOM) market cap totals ~$480M and Chevron’s (CVX) is ~$300B, in comparison with $230B for Shell (SHEL) and $110B for BP (BP).
