Darren Woods’ pay is ‘reflective of record company earnings and stock price performance’, says oil firm
ExxonMobil handed its chief executive a 52% pay increase to $35.9m for 2022 after the oil company reported its highest ever profits amid Russia’s invasion of Ukraine.
Darren Woods’ salary rose by 10% to $1.9m last year while his bonus and share awards surged by 80% compared with the year before. The company said the bumper payday was “reflective of record company earnings and stock price performance”.ignited a surge in global oil and gas prices. The company’s record profit was also the highest reported by any western oil company.
In an official company filing, Exxon’s remuneration committee said that under Wood’s leadership the company had “delivered exceptional business results”. Meanwhile, the company’s share price outpaced its industry rivals last year after climbing by 160%.