The CEO of the American oil and gas group ExxonMobil has received a significantly higher remuneration for 2022. The largest oil company in the United States posted a record profit last year thanks to sharply increased energy prices due to the war in Ukraine.
In total, CEO Darren Woods will receive an amount of USD 35.9 million in remuneration for 2022. That is equivalent to EUR 32.4 million and an increase of 52 percent compared to a year earlier. The vast majority of that amount consists of blocks of shares. Other top executives of the Texas company also participate, because in total the top five executives of ExxonMobil receive nearly $ 120 million in rewards.
Woods is one of the highest-paid top executives of the major oil companies. His colleague Mike Wirth of the American Chevron received $ 23.6 million and the departed Shell CEO Ben van Beurden received approximately $ 12 million for 2022.
US President Joe Biden has regularly criticized the high pay and profits in the oil sector and the large profit distributions to shareholders of oil companies. He said that those exorbitant profits have been made on the back of consumers who had to pay more for fuel. Woods has said billions were lost during the 2020 coronavirus pandemic as oil prices plummeted and the company is making huge investments to increase production.