The oil industries' chief executive officers' got fat in 2007, well at least their wallets did.
Here are some excerpts from the June 17 magazine article:
Equilar's study found that for the 12 CEOs at the largest U.S.-based, publicly traded oil companies, median total compensation increased by more than four times the rate of that of executives in the Standard & Poor's 500-stock index as a whole.
Some analysts say these CEOs are receiving pay raises based more on factors they don't control-such as sharply rising oil prices-than on managerial prowess. "Energy companies' improved performance is almost entirely due to high oil prices," says Paul Hodgson, an executive pay expert for Corporate Library, a Portland (Me.) corporate governance research organization. "But if [their executives] deny culpability for high oil prices, why are they getting rewarded for them?"
