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Exxon chief made $144,573 per day: report
WASHINGTON (MarketWatch) -- Lee Raymond, the chairman and chief executive officer of Exxon Mobil Corp., earned $144,573 for each day of the 13 years he served at the top of the oil company, according to a report in Saturday's New York Times.
Raymond, who retired from Exxon Mobil in December, received more than $686 million from 1993 to 2005, according to an analysis done for the paper by an independent compensation consultant.
Raymond received more that $400 million in the final year of his contract.
Shareholder activists, consumer groups and corporate governance experts were taken aback by the details of the package.
Raymond declines to comment for the report.
Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware said Raymond received "entrepreneurial returns for managerial conduct."
"Exxon was there long before Mr. Raymond was there and will be there long after he leaves. Yet he received Rockefeller returns without taking the Rockefeller risk," Elson said.
Source : Greg Robb, MarketWatch
Raymond, who retired from Exxon Mobil in December, received more than $686 million from 1993 to 2005, according to an analysis done for the paper by an independent compensation consultant.
Raymond received more that $400 million in the final year of his contract.
Shareholder activists, consumer groups and corporate governance experts were taken aback by the details of the package.
Raymond declines to comment for the report.
Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware said Raymond received "entrepreneurial returns for managerial conduct."
"Exxon was there long before Mr. Raymond was there and will be there long after he leaves. Yet he received Rockefeller returns without taking the Rockefeller risk," Elson said.
Source : Greg Robb, MarketWatch
posted by تـــمّـــوز الـبابـلـي, ٤/١٦/٢٠٠٦
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