Exxon Mobil CEO Paid $33 Million in 2014

By Angela Chen 

Exxon Mobil Corp. Chief Executive Rex Tillerson was paid $33 million in 2014, up 18% from $28 million the year before.

Mr. Tillerson saw his base salary increase slightly to $2.8 million from $2.7 million in 2013. His bonus and stock awards were largely the same. However, he received $4.6 million in pension benefits, compared with 2013, when he received none. He received $13 million in pension benefits in 2012, when his compensation totaled $40 million.

In February, Irving, Texas-based Exxon Mobil, the biggest and richest U.S. oil company, reported that its quarterly profit dropped 21% as production declined.

Despite generating $87.3 billion in revenue last year, Exxon's cash flow in the last three months of 2014 fell to its lowest level since recession-wracked 2009. The company said it would cut spending on share buybacks as it searches for ways to cut costs.

In comparison with Mr. Tillerson, Chevron Corp. CEO John S. Watson was paid $26 million in 2014, up about 8% from $24 million the year before. The biggest increase was also in Mr. Watson's pension benefits.

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