Wednesday, April 2, 2008

Chevron CEO Payout: $16 Million

By Chris Thompson
Wed, Apr 2, 2008 at 8:15 AM

Hey, not everyone's feeling the bite of our imminent recession. According to the East Bay Business Times, Chevron Chairman and CEO David O'Reilly received $16 million in 2007. The compensation package included a management bonus of $3.6 million and stock options worth $10.2 million, in addition to his annual salary. Oh, and he exercised $29 million in stock options last year. Looks like that four bucks a gallon at the pump goes somewhere after all.

The figures were released in a filing the oil giant made to the Securities and Exchange Commission. The filing also included some unusual shareholder requests, namely that Chevron adopt a comprehensive human rights policy, report on environmental consequences of its Canadian oil sands operation, and adopt goals to reduce greenhouse gas emissions. How much do you think O'Reilly will get next year for killing those proposals?

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