Stories tagged with James Houghton
At ExxonMobil, mandatory retirement, sort of
By Gary Jacobson | April 14, 2008 at 9:34am | 0 
ExxonMobil has a mandatory retirement age — 72 — for non-employee members of its powerful board of directors. But it’s really not mandatory.
ExxonMobil’s well-paid directors
By Gary Jacobson | September 30, 2007 at 7:15am | 0
Outside directors of ExxonMobil are among the highest-paid board members in the world. Each earned well over $300,000 in compensation from the giant oil company in 2006.
And that’s only part of the story.
Because of ExxonMobil’s strong stock, if the directors’ 2007 compensation were calculated based on today’s share prices, it would total about $500,000 apiece.
That may be one reason why ExxonMobil changed its non-employee director pay last week, reducing the annual award of restricted stock from 4,000 shares to 2,500 shares apiece, beginning next year. The company also increased cash payments to each director to $100,000 from $75,000, while eliminating smaller payments for some committee duties.
