Darren Woods, Chairman and CEO, Exxon Mobil Corporation speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. REUTERS/David Swanson/File Photo
(Reuters) – Exxon Mobil (XOM.N), CEO Darren Woods’ pay package for 2024 rose 19.3% to US$44.1 million, a regulatory filing by the U.S. oil major on Monday showed.
Woods’ base salary was about US$1.96 million, with the majority of his pay package based on variable factors, including a US$4.5 million bonus and U$26.8 million in stock-based awards.
According to a regulatory filing, Woods’ pay package is about 231 times the average compensation of US$190,266 received by the oil major’s workers.
The median annual compensation for Exxon employees increased by 2.6%, compared to 2023.
Meanwhile, Chevron’s CEO Michael Wirth saw total compensation increase by 23.4% to $32.7 million in 2024.
