Exxon Mobil CEO Woods’ pay climbs 3% in 2023

By Thomson Reuters Apr 11, 2024 | 7:58 AM

(Reuters) -Exxon Mobil paid Chief Executive Officer Darren Woods $36.9 million in total compensation for 2023, up nearly 3% from a year earlier, the oil major said in a regulatory filing on Thursday.

The median pay for an Exxon worker rose 8% last year to $185,376.

Rival oil major Chevron’s CEO Michael Wirth also saw total compensation increase by 12.2%. He was paid $26.5 million in 2023.

The salary hikes come even as profits from oil majors have been down in 2023 by about a third from record levels in 2022, as oil and gas prices retreated after spiking when Russia invaded Ukraine.

Exxon ended 2023 with a $36 billion profit versus $55.7 billion it earned a year earlier.

(Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)