Exxon CEO Pay Climbed 2.8% to $36.9 Million Last Year on Pension

(Bloomberg) -- Exxon Mobil Corp. Chief Executive Officer Darren Woods’ pay climbed 2.8% to $36.9 million last year, largely led by a change in the value of his pension.

Woods received a higher salary, but his pension and “all other compensation” were the most significant in bumping his earnings compared with the previous year, Exxon said in its proxy statement Thursday. The CEO’s bonus dropped nearly 25% to $4.8 million.

Exxon said it will likely report lower first-quarter earnings compared with the prior three-month period due to falling oil and natural gas prices and a drop in profit from mark-to-market derivatives.

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