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2007 bumper year for Chevron CEO David O’Reilly: OVER $45 MILLION in ‘compensation’ and other perks!

Reuters: Chevron CEO made nearly $16 mln in 2007

Tue Apr 1, 2008 5:00pm EDT

NEW YORK, April 1 (Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research) Chief Executive Dave O’Reilly received close to $16 million in compensation for 2007, when shares of the second largest U.S. oil company rose 27 percent.

O’Reilly, 61, also pulled in $29.1 million from exercising options and stock awards during the year.

He received a compensation package worth $15.7 million for the year, including a $1.7 million salary, $10.2 million of stock and option awards and $3.6 million of incentive awards. There was an additional $255,251 in other compensation as well.

In 2006, received a pay package worth $13.5 million as well as $17.1 million from exercising options and stock awards.

Chevron earnings rose 9 percent to $18.69 billion in 2007 as oil prices surged to record levels.

(Reporting by Michael Erman, editing by Richard Chang)

http://www.reuters.com/article/marketsNews/idUSN0130563120080401

Headline by John Donovan of www.royaldutchshellplc.com

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