Exxon, Chevron each paid CEOs $22M-plus last year; face votes on emissions

Apr. 07, 2022 8:00 PM ETExxon Mobil Corporation (XOM), CVXBy: Carl Surran, SA News Editor65 Comments

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Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) paid their CEOs more than $22M each last year, according to SEC filings released on Thursday.

Exxon paid Darren Woods $23.6M in 2021, up from $15.6M in the previous year, and awarded a $3.1M cash bonus, while Chevron paid Michael Wirth $22.6M last year, down from $29M in 2020, and added a $4.5M cash bonus.

Filings also showed Exxon investors will vote during the annual meeting scheduled for May 25 on seven shareholder proposals that include a call for the company to reduce emissions.

Exxon's board advises investors to reject all seven shareholder proposals, according to the proxy statement.

Chevron also faces a series of shareholder votes on climate and emissions at its annual meeting, also planned for May 25; the company advises investors to vote against the proposals.

The disclosures came a day after a U.S. congressional panel grilled oil company executives, accusing them of price gouging at a time of high gasoline prices.

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