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Exxon pay limits rejected
Key Excerpts from Article on Website of Baltimore Sun
Baltimore Sun, June 1, 2006
Posted: November 11th, 2006
http://www.baltimoresun.com/business/bal-bz.exxon01jun01,0,1...
Posted: November 11th, 2006
http://www.baltimoresun.com/business/bal-bz.exxon01jun01,0,1...
Shareholders of Exxon Mobil Corp., whose departing chief executive got a $357 million retirement package, overwhelmingly rejected resolutions to rein in compensation at the company's annual meeting yesterday. Chairman and Chief Executive Officer Rex W. Tillerson said predecessor Lee Raymond deserved a $357 million retirement package that he received in January because he delivered record profits.
Note: So price gouging at the gas pumps brings record oil profits and one of the CEO's responsible gets hundreds of millions of dollars as a retirement gift. What kind of message does that send? Why didn't other major newspapers pick up this little "detail."
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