Chevron Executive Pay Up in 2016
Chevron Executive Pay Up in 2016

Chevron Executive Pay Up in 2016

Chevron Executive Pay Up in 2016

Compensation for three of Chevron Corp's senior leaders, including Chief Executive John Watson, rose last year due to a change in how the value of pensions is calculated. The disclosure, required by US regulators, comes as the oil industry grapples with low prices and Chevron, the second-largest US-based oil producer, tries to bounce back after posting an annual loss last year, its first since 1987, Reuters reported. Chevron's shareholders will meet on May 31 in Midland, Texas, for a nonbinding vote on the executive payouts. Much of the executive compensation boost was due to the rise in value of pension plans tied partly to Chevron's stock, which climbed 28% last year as oil prices increased 47%. Age and other factors can effect actuarial calculations of a pension's value. Watson, CEO since 2010, saw his compensation rise 12% to $24.7 million, fueled largely by the pension value increase.


Short URL : https://goo.gl/27kCdw
  1. https://goo.gl/kiE0AE
  • https://goo.gl/KLbEi0
  • https://goo.gl/22UMhs
  • https://goo.gl/4vIoIS
  • https://goo.gl/HwhBch

You can also read ...

Russia Says US Sanctions on Iran "Unproductive"
United States' sanctions on Iran's oil industry are...
Oil Coalition Seeks Consensus Ahead of Algiers Summit
With a critical meeting in Algiers fast approaching, a...
China to Cut Solar, Wind Subsidies
China will speed up efforts to ensure its wind and solar power...
Abu Dhabi Planning Biggest Oil  IPO in Decade
Abu Dhabi is pushing ahead with an initial public offering for...
Crude Prises Higher as Supply Concerns Rise
Oil prices rose on Monday as investors worried about the...
New Power Capacity for Sistan-Baluchestan
Operations to build new combined-cycle power plants in...
Abadan  Refinery  Second Phase  on Track
The second development phase of Abadan Oil Refinery in...
ICOFC to Develop  Eight Gas Fields
Iranian Central Oil Fields Company plans to develop eight gas...

Add new comment

Read our comment policy before posting your viewpoints