"Under Lee R. Raymond, the market value of Exxon Mobil increased fourfold to $375 billion, overtaking BP as the largest oil company. Under Mr. Raymond, the company's market value increased fourfold to $375 billion, overtaking BP as the largest oil company and General Electric as the largest American corporation. Net income soared from $4.8 billion in 1992 to last year's record-setting $36.13 billion.I wonder if he is happy. In any event, it rather puts Beckham, Rooney and Moyles into the shade...
Shareholders benefited handsomely on Mr. Raymond's watch. The price of Exxon's shares rose an average of 13 percent a year. The company, now known as Exxon Mobil, paid $67 billion in total dividends.
For his efforts, Mr. Raymond, who retired in December, was compensated more than $686 million from 1993 to 2005, according to an analysis done for The New York Times by Brian Foley, an independent compensation consultant. That is $144,573 for each day he spent leading Exxon's "God pod," as the executive suite at the company's headquarters in Irving, Tex., is known."
An occasional glimpse into the workings of the Scottish Parliament and the Scottish Executive (or comments on anything else that takes my fancy).
15 April 2006
Fat cats again!
The last post on fat cats, I promise. The New York Times considers the rewards accruing to the Exxon chief:
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