{"id":8154,"date":"2023-04-13T08:53:16","date_gmt":"2023-04-13T08:53:16","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/chevron-paid-its-ceo\/"},"modified":"2023-04-13T08:54:36","modified_gmt":"2023-04-13T08:54:36","slug":"chevron-ceo-pay-rose","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/chevron-ceo-pay-rose\/","title":{"rendered":"Chevron CEO pay rose 4% to $23.6 million in 2022, employee compensation fell"},"content":{"rendered":"

By Sabrina Valle<\/p>\n

HOUSTON (Reuters) – Chevron Corp CEO Michael Wirth was paid $23.6 million in 2022, a 4% increase from the prior year while the median annual compensation for the oil giant’s employees fell 12%, a securities filing showed on Wednesday.<\/p>\n

In addition to sky-high energy prices, cost-cutting measures including payroll reductions helped Chevron’s profit more than double in 2022 to a record $36.5 billion.<\/p>\n

The median annual compensation for Chevron employees last year dropped to $161,488.<\/p>\n

Under a new metric required by the U.S. Securities and Exchange Commission, Wirth’s “actual compensation paid” rose 60% to $86.7 million when equity awards, pension benefit adjustments and other compensation were factored in. <\/p>\n

Chevron said the figure did not represent Wirth’s actual realized compensation as it includes equity-based awards – the value of which is not known until options are exercised or stock is sold.<\/p>\n

According to shareholder advocacy group As You Sow, Wirth last year ranked 87th on a list of 100 CEOs that it says received unjustified pay levels.<\/p>\n

CEO compensations are set to the rise 30% to an average of $38.1 million this year, according to As You Sow. Most companies approve compensations in the prior year.<\/p>\n

\n

(Reporting by Sabrina Valle; Editing by Edwina Gibbs)<\/p>\n

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By Sabrina Valle HOUSTON (Reuters) – Chevron Corp CEO Michael Wirth was paid $23.6 million in 2022, a 4% increase from the prior year while the median annual compensation for the oil giant’s employees fell 12%, a securities filing showed on Wednesday. In addition to sky-high energy prices, cost-cutting measures including payroll reductions helped Chevron’s […]<\/p>\n","protected":false},"author":8,"featured_media":8155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-8154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3B0UQ-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/8154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=8154"}],"version-history":[{"count":5,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/8154\/revisions"}],"predecessor-version":[{"id":8553,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/8154\/revisions\/8553"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/8155"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=8154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=8154"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=8154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}