Fidelity Banner Yudala
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: 267

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

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!

 

You may also like...
Five-year-old pupil, 15 others drag school to court...

American troops spot Boko Haram insurgents inside Sambisa...

EFCC arraigns two oil dealers for Petroleum Equalisation...

Elections: I-G deploys Special Forces to Rivers

FG to establish Specialised Petroleum Force to tackle...

Drug Salvation Foundation recruits celebrities, takes anti-drug war...

Hajj Tragedy: Country-by-country death toll •769 now confirmed...

Court orders direct funding of judiciary •Bars FG,...

FG urged to focus more on maritime sector...

Ese’s abductor, syndicate will face severe punishment —IGP...

Striker Adebayo Akinfenwa named FIFA 15’s strongest player...

Arase redeploys Plateau Police Commissioner, appoints replacement

 

Latest News Hazy weather to persist in the North today, South to experience cloudy morning: NiMET Police seeks peaceful settlement of Army, Premium Times dispute Miyetti Allah denies responsibility for Southern Kaduna attacks Former President Jonathan visits Obasanjo in Ogun State CLO to Obiano: Conduct Local Government election now! NUJ deregisters Shiite-owned newspaper MOSOP at war with Pastor who described Ogoni as ‘the most wicked tribe in Nigeria’ Ogun set to commission 20 more companies 80-year-old woman in court for fighting Trouble for new US President Donald Trump BREAKING NEWS: Jammeh throws in the towel, set for exile Osinbajo returns to Abuja, takes over as Acting President

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (222,834 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (202,774 views) Shameless Genevieve Nnaji exposes breasts in public (169,268 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (158,537 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (142,632 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (127,523 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (113,339 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (111,618 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (100,263 views) Lagos plane crash: Journalist releases victims’ names (96,474 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (91,639 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (77,351 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (25) Business (2,413) Business Verdict (14) Columnists (610) Complaints & Requests (81) Enterprise & Opportunities (132) Entertainment (282) Features (357) Global Business Monitor (129) International (1,191) Interviews (112) Live Commentary (28) Love Matters (35) News (20,760) Opinion (619) Pidgin (8) Politics (3,494) Religion (460) Sports (1,208) Stock Watch (9) AMA & Al Jazeera Global Update

 

UBA banner advert

CBN BVN

 

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!