ExxonMobil has agreed to give their CEO, Lee Raymond, a $400 million retirement package, a simply outrageous amount. For comparison, David O'Reilly, CEO of Chevron has a $3.57 million long-term compensation package.
According to the Wall Street Journal, "Raymond's pay package amounted to $190,915 a day."
From the story linked above:
“These major oil companies have hooked their hose up to the pocketbooks of American citizens and are sucking money from ordinary Americans into the treasury of the giant oil companies," he said in a statement. "The result is that Exxon reported the highest profit in the history of corporate America last year. Today we read that while farmers struggle to pay the fuel bills and drivers are paying painful prices to fill their gas tanks the oil companies are rolling in cash and their retired executives are getting obscene retirement benefits.”
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