Exxon chief's pay hits $38m

Without commenting on the specific merits of this payment, I wonder if Boards are taking care to extract issues that are beyond the control of management if setting compensation and, particularly, bonuses.

In this case, I wonder whether the impact on the company's profits directly resulting from significant increase in the crude oil price was extracted from their compensation evaluations and NOT taken into account.

When evaluating and compensating performance of senior management, should not the Board only take into account the actual performance of that management and not extraneous effects beyond their control.

This of course, works both ways, when prices go the other way.

OAM

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Exxon chief's pay hits $38m