Exxon CEO Rex Tillerson Compensation Up 34%

Exxon Mobil’s CEO Rex Tillerson saw his total compensation grow 34% in 2008, with his salary getting a 10% bump for 2009.

Tillerson’s total compensation was $22.4 million in 2008 versus $16.7 million for 2007. His base salary was $1.87 million and his bonus was $4 million. The rest of the pay is made up of restricted stock awards of $7.81 million, pension and other deferred compensation rose $8.29 million and personal security and use of the company plane, totaled at $446,826.

Tillerson raised the net income of his company 11% from $40 billion in 2007 to $45 billion in 2008, though the company’s stock dropped 15% for the year.

This is the year when he’ll really earn his money. Exxon’s oil supplies are low, and it’s increasing it’s oil field investment 11% this year, but analysts think that will only deliver a 2-3% increase in production annually. Further, gasoline consumption is waninig, and in case you hadn’t heard, the price of oil is kinda down from its highs last summer.

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