Newsexpress place banner advert Yudala Upgrade lifestyle banner
ExxonMobil sends out CEO with $180m retirement package as he gets set to start a new life as US Secretary of State

By News Express on 04/01/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 430

US Secretary of State-designate Rex Tillerson.
US Secretary of State-designate Rex Tillerson.

Secretary of State-designate Rex Tillerson and ExxonMobil have agreed to a $180 million retirement deal that will see Tillerson give up several million dollars in cash bonuses and put the equivalent of two million company shares into a trust.

The agreement came about as a way for Tillerson to comply with conflict of interest requirements set forth by federal ethics regulators.

As part of the agreement, Tillerson will forego collecting more than $4 million in cash bonuses he was set to receive over the next three months, and he will give up 2 million company shares. In exchange, ExxonMobil agreed to place a cash payment equal to the value of those shares into a trust.

“The net effect of the agreement is a reduction of approximately $7 million in compensation owed to Tillerson,” the company said.

Tillerson will also have to sell more than 600,000 shares he currently owns in ExxonMobil and he will be banned from working in the oil and gas industry for the next 10 years.

President-elect Donald Trump nominated Tillerson secretary of state last month. Tillerson worked as the CEO of ExxonMobil for 10 years before announcing his retirement on December 31. (VOA)
  

Source News Express

Posted 04/01/2017 2:00:31 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Impeachment: Count PDP, Presidency out of Nyako’s woes...

Tinubu rescues Yahya Jammeh •How Nigerian moneybag’s private...

Fayose takes on Buhari, set for protest

In defence of Education Minister, By Hafsat Magaji...

Money Laundering: Court admits EFCC’s evidence against Prison...

Hajj Commission announces 2015 Hajj fares

Military nabs 6 over Taraba communal clash, recovers...

OBJ in war mood, hits Chinua Achebe and...

HURIWA warns FG against collecting $600m loan for...

PDP wins Ife Central rerun election

Where are the Chibok campaigners?

EFCC to investigate Halliburton case

 

Latest News 6-year-old dominates Facebook with calls for end to violence Today will be characterised by cloudy morning, localised thunderstorms, light showers: NiMET Gambia’s Jammeh ‘stole $50m’, assets frozen Nasarawa to get steady Power Supply – Commissioner Sokoto approves N1.7bn for fertilizer procurementSokoto approves N1.7bn for fertilizer procurement Constitution responsible for Nigeria’s Failure – Bisi Akande Prince Tonye Princewill resigns from Labour Party Reps attempt to amend NLNG Act without shareholders’ involvement ‘borders on illegality’ Kano Free Trade Zone must work under my watch — Jime CBN intensifies Forex supply to the marketCBN intensifies Forex supply to the market Indian Warship arrives Lagos for drill Senate tracks Bill to provide recovery of crime proceeds of corruption

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (245,744 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (222,376 views) Shameless Genevieve Nnaji exposes breasts in public (184,273 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (165,155 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (157,948 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (138,056 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (120,530 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (118,017 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (105,990 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (102,431 views) Lagos plane crash: Journalist releases victims’ names (101,132 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (95,400 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,556) Business Verdict (16) Columnists (681) Complaints & Requests (89) Enterprise & Opportunities (150) Entertainment (320) Features (443) Global Business Monitor (151) International (1,373) Interviews (121) Live Commentary (28) Love Matters (54) News (24,601) Opinion (716) Pidgin (8) Politics (3,696) Religion (532) Sports (1,263) Stock Watch (18) AMA & Al Jazeera Global Update

 

Words on marble

 

UBA Wise Savers Promo

 

There is no water shortage in the State of Osun

 

APO Newsbreak logo

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!