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Article: Exxon Mobil shareholders reject compensation limits
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- June 1, 2006
- Author:
CopyrightCopyright 2006 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
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DALLAS -- Shareholders of Exxon Mobil Corp., whose last chief
executive took home $147 million when he retired, overwhelmingly
rejected resolutions to rein in compensation at the oil company's
annual meeting on Wednesday.
Chairman and Chief Executive Rex W. Tillerson said some
shareholders sent a signal by withholding votes for board members who
approved former CEO Lee R. Raymond's widely publicized pay and
pension packages.
"We all recognize that there has been a lot of controversy and
comment around compensation," said Tillerson, who took over in
January after Raymond retired. "Probably most likely what we were
seeing is some people voting their disapproval of how that was
handled."
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