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Page added on April 28, 2013
Chevron CEO gets $3.5 million cash
Chevron Corp. says Chairman and CEO John Watson will get a $3.5 million cash bonus for the oil company’s big profit in 2012.
It also said Tuesday that directors approved a $100,000 raise for Watson, boosting his annual salary to $1.8 million.
Four other executives will get bonuses of up to $2.2 million and raises. The San Ramon, Calif., company says it will detail its executive compensation packages when it files a proxy statement with the Securities and Exchange Commission.
Chevron earned $26.2 billion in 2012, the second-largest profit in company history. Its stock rose 2 percent in 2012 and is up 10 percent in 2013.
7 Comments on "Chevron CEO gets $3.5 million cash"
SilentRunning on Sun, 28th Apr 2013 5:03 pm
Another example of “getting while the getting is good.”
econ101 on Sun, 28th Apr 2013 6:07 pm
More signs of an extremly high eroei for oil!
GregT on Sun, 28th Apr 2013 6:15 pm
Econ/SOS,
Come on, even YOU are smart enough to not believe that.
rollin on Sun, 28th Apr 2013 7:19 pm
So they gave their top executive 0.013 percent of their profits, big deal.
Plantagenet on Sun, 28th Apr 2013 8:56 pm
Chevron is doing better then most of the oil majors
Airwicky on Mon, 29th Apr 2013 4:25 am
This could just be a sign of the opposite. Proving peak oil is upon us since only the big shots get the raises. In 30 years of Reagan-omics we’ve seen the richest 1% clear far outta sight compare to the middle class. If that doesnt spell Peak Oil then i dont know what would!
Kenz300 on Tue, 30th Apr 2013 2:59 am
The oil companies love it when oil prices spike.
They make huge windfall profits.
They will do all they can to block any alternatives to oil and fossil fuels. Without competition from alternatives prices will continue to rise.