Exxon CEO pay jumps over 50% amid rising oil prices, record profit, WSJ says

Exxon Mobil CEO Darren Woods’ compensation rose 52% to $35.9M last year, as the oil-and-gas company brought in record profit, The Wall Street Journal’s Joseph Pisani reports. Most of Woods’s compensation came from stock awards of $24.9 million, according to a company filing Thursday made to the U.S. Securities and Exchange Commission. That is up more than $11 million from the year prior. Woods also received a bonus of nearly $6.4 million, more than double his 2021 bonus. His annual salary in 2022 rose 5% to $1.7 million. Other parts of his total compensation include his pension and personal use of the company’s jet. Exxon didn’t respond to Wall Street Journal’s request for comment. Rising oil prices due to Russia’s invasion of Ukraine sent Exxon’s profits soaring. The oil giant reported a record annual profit of $55.7 billion in 2022, more than double the previous year, when the company’s finances took a hit after it lost a proxy fight to investment firm Engine No. 1. Reference Link