Exxon Mobil boosted CEO pay to $17.5 million for 2017

Exxon Mobil Corp Chairman and Chief Executive Darren Woods’s compensation package rose about 4 percent last year to $17.5 million, his first year running the world’s largest publicly traded oil producer.

The pay increase came as Exxon’s profit more than doubled in 2017 thanks to rising crude oil prices and as the company launched or added to major expansions in Brazil, the United States and Guyana.

Woods’s 2017 compensation package included a 20 percent increase in his salary to $1.2 million and a 50 percent increase in his bonus to $1.8 million, among other items.

FUN FACT: The typical CEO at the biggest U.S. companies got an 8.5% raise last year, raking in $11.5 million in salary.

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