"Exxon Mobil Corp said Thursday it raised chief executive Rex Tillerson's compensation by 29 percent (my emphasis added) last year to $16.7 million. Mr. Tillerson's salary rose 17 percent (my emphasis added) to $1.75 million and his bonus increased 20 percent (my emphasis added) to $3.36 million, the Irving-based company said in a filing with the Securities and Exchange Commission. Exxon Mobil shares fell 15 cents (my emphasis added) to $89.55."
Yep, it was such good news that the stock value went down.
Added note #1: I have attended 3 EM shareholders meetings and at all 3, I never heard anyone speak positively about executive compensation. All speakers on that subject were opposed to the high increases.
Added note #2: One of my favorite memories of my 20+ years working at Exxon/ExxonMobil was from the early 90's. My boss called me in to tell me about getting a raise. Normally, when you got a raise, you were told a percentage, such as..."you got a x-percent increase effective whenever." This time, I was given a $ figure. I asked him, "well, what percentage is that?". That was important because the higher rated performance-wise you were, the higher percentage you got. He got a bit uncomfortable before telling me it was "about 3%". That was one of the lowest raises I had ever gotten, even though for that performance period, I wasn't rated low. I voiced some displeasure about this and his response was this....
"Well, between you and me, 3% is one of the highest I've seen this year. Really, you should be happy with that percentage. Besides, (name of the President of Exxon Co USA) 'only' got a 3% raise himself."
I'm not sure how he knew how much the President of Exxon USA got, but I really doubted that it "was only 3%". My reply to him was somehow I didn't feel all that happy because even I could figure out that 3% of my salary was a whole lot less than 3% of the President of EUSA's. He didn't think that was too funny.
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