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Exxon Mobil (XOM) says CEO Rex Tillerson’s total compensation reached $40.2M last...

Exxon Mobil (XOM) says CEO Rex Tillerson’s total compensation reached $40.2M last year, up 15% Y/Y, with much of the increase due to a change in pension value and other deferred compensation earnings. Tillerson's salary rose to $2.5M from $2.4M; effective Jan. 1, his salary increased to $2.7M.
Comments (17)
  • Good to see those share buybacks may be working for someone.
    12 Apr 2013, 12:48 PM Reply Like
  • I worked for XOM for years and am now retired. I have been complaining about the CEO pay scale for just about as many years that I have worked for them. There is no earthly reason why "anyone" should be getting that kind of money. This is simply robbing the shareholders of their investment in the company. Sure it's good to have someone running the company that is doing well for the overall health of XOM, but there has to be a line that is drawn somewhere. Every time I receive any voting material in the mail, I vote against them all, and make a comment on the page that until they stop giving our share of the profits to the CEO, I will continue to vote against them. Further more, everything that they suggest I vote for, I vote AGAINST. If we would all stick together on this maybe something will get accomplished. Team effort usually accomplishes great results.
    12 Apr 2013, 01:22 PM Reply Like
  • Kudos to you. Public companies have been granted franchises to benefit the shareholders. Boards of Directors are supposed to be objective shareholder guardians and make certain that executives run profitable enterprises consistent with the corporate mission. Merely warming a seat on a Board or in the executive suite in an established company, particularly a venerable one, without commensurate profitabilty performance is unjustifiable and the more reason to demand results on behalf of the shareholders.


    Many Boards of Directors of public corporations have forgotten their fiduciary duty to shareholders and have less than an arm's length relationship with their executives. It is time that the Justice Department and SEC investigate and consider prosecution. The outrageous salaries, bonuses and expense reimbursement is nothing less than stealing from the common shareholders who are the victims, particularly where there is little or no growth in profitability. In these cases the authorities should also clawback the unjustifiable payments to both the board members and executives.


    Members of the Board, who often times enjoy ridiculous compensation in form of cash and stock at the expense of the common shareholder, must take an active and committed stance in knowing the companies they serve and be held personally accountable for their actions . Furthermore compensation packages must bear a reasonable relationship to the lowest paid employee in the corporation and importantly. Lastly, comparing executive or board compensation to other companies as renumeration justification breeds unearned entitlement and mediocrity; that practice should be discarded in favor of aligning compensation to substantive achievement.
    14 Apr 2013, 01:31 AM Reply Like
  • Excellent commentary, words. Your analysis is an insightful 'tour de force' of reason.


    Just as American government has abandoned its true responsibilities toward any semblance of representative democracy, so have many large corporations by the consolidation of power and privilege at the expense of 'common' shareholder.


    Nothing will change as big government and big corporations are tirelessly inured to the humble origins of their respective missions.
    14 Apr 2013, 09:49 AM Reply Like
  • But you're retired because of XOM. Isn't that a good thing?
    12 Apr 2013, 01:28 PM Reply Like
  • Nice to hear from a Democrat. There logic and statements always make a lot of sense, and they are so easy to pick out of a crowd. By the way, anytime you feel you have an excess in funds, please look me up, I'll be more then happy to take some off of your hands. Obviously you missed my whole point.
    12 Apr 2013, 02:35 PM Reply Like
  • Its good for them. They do tend to out themselves now don't they.


    "But you're retired because of XOM"


    You must have not had anything to do with your retirement.
    12 Apr 2013, 02:51 PM Reply Like
  • Excuse me, but what does that have to do with the price of beans!! It doesn't matter if I retired from a chicken farm or a corner grocery store. My efforts and the efforts of the other employees, while working for XOM, contributed to how they got to where they are today. One individual can not take all the credit for a team effort. No matter how you slice the pie, or what "you" think, the shareholders of XOM are being short changed. And once again, if you have an excess in funds, I'll be happy to take it ALL off your hands.
    12 Apr 2013, 03:07 PM Reply Like
  • I could not agree more. You held the keys to your future. You went out and got that job. You did your job for years. You avoided getting hurt or killed. You made sure to invest. I worked around Exxon for years and I am amazed at how many different work ethics I saw there. The old breed was different but there are a lot of gold bricks and preacher types there now. For some reason XOM will let anyone with a bible that claims to be a preacher slack off. Then they put them in charge of safety.


    Exxon is a vehicle but you drove toward your destiny. Many other could have done what you did but they did not....and many other outside of Exxon have ridden your coattails by buying into a great company. I also feel that xom could do more in terms of dividends. I do not know that REX is worth 2.7 mil.
    12 Apr 2013, 05:09 PM Reply Like
  • Yes, thanks to all the OLD dedicated men that worked for these BIG oil companies in the past. they suffered and did with out to make the company grow. My Dad went to work for The Texas Company (TEXACO, INC.) mid-1932, worked until he was 66 and had to retire because of age. When he first started working, there were paydays when the men were told that as soon as the Company got money in, they would be paid. Just remember that was in the bad days of the big depression. They never got a bonis for helping the company out, they continued doing their JOB. No he was not the only man that did that, they made the big companies of today, I have to wonder how long the men would work if they were told that as soon as the Company got money, they would be paid.
    12 Apr 2013, 03:40 PM Reply Like
  • Well, one company man that surely wouldn't work for just pride, prayer and a handshake is Mr. Tillerson. Not when your "earn $40M".
    12 Apr 2013, 06:39 PM Reply Like
  • Compare Tillerson's contract with ARod's. Who's contributing more to more people?
    13 Apr 2013, 03:08 AM Reply Like
  • That's Apples to Oranges comparison...
    14 Apr 2013, 09:32 PM Reply Like
  • To align management's interest with shareholders incentive compensation beyond salary should be based on dividends.If Tillerson was compensated based on dividends rather than huge chunks of owner's principal shareholders would know he was on their side.
    13 Apr 2013, 12:04 PM Reply Like
  • I worked for Exxon for 12 1/2 years. I progressed from knowing nothing about refining to Chief inspector at the Benicia Refinery. I have worked in all the refineries during TAs except Billings. My retiement is small but I get good divedends.
    14 Apr 2013, 09:05 PM Reply Like
  • I agree that 40 million plus sounds like a lot of money to pay a President, but Rex oversees the operation of a company with sales in the billions
    14 Apr 2013, 09:05 PM Reply Like
  • Hronald, it not only sounds like a lot of money, IT IS a lot of money. I had 28 years with the company. I started in Operations, advanced to Stillman, and then supervision. When they went from running the refinery with control knobs to high tech computers, I was there. Do you think that Mr. Tillerson could handle my job or yours. I can promise you that he couldn't. He is talented in what he does, just like the thousands of other XOM employees. It seems that everyone is missing my whole point on this topic. Do you think that just a Pitcher or a Quarterback on a team can win games all by their selves, of course not. They may be more valuable then a first basemen, a catcher, a running back or a tight end, but all are part of the whole team. And by the way, I think they are overpaid as well. It's not a problem to give them a "reasonable" higher percentage of the pie in order to encourage them to stay with the team, but come on, can you honestly believe that the shareholders of Exxon are not being ripped off? He receives in one year what most folks don't earn in a lifetime. Something wrong with that picture!
    15 Apr 2013, 12:04 AM Reply Like
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