I am as fiscally conservative as the next guy, but at a time with soaring gas prices and the oil industry under attack for alleged price gouging and profiteering, this executive getting close to one half billion dollars in retirement benefits is both shameful and contemptible. It is almost like Exxon is giving a big "F You" to each one of us who use this very unique (and increasingly expensive) commodity out of necessity and not choice.
Yep, this is a Big F YOU to the offshored employees and the buyers of gasoline and energy in this country.
i agree it is going to be interpreted as a big FU, but since my last post it occured to me that it is unclear how much if any new stock or options he got as part of the retirement - only 32M in options are listed. It is entirely possible that many of those shares or options he has owned for many years and in fact his overall retirement is the 32M in options and the 7m/year pension plus whatever small items were on the list. (I don't count dividends either, all shareholders get those.)
I don't think shares or options he has held for any amount of time should be considered a retirement or bonus package.
It is not out of necessity. You have simply taken your lifestyle for granted and lack the vision of a world without gas at the price you want.
Our great-grand parents are laughing at us, thinking there is no way to cope without cars, or that we are victims of a plutocracy by virtue of gasoline prices vs. executive compensation.