Exxon Mobil Corp.’s CEO had a good year in 2011 – he got compensation valued at $25.2 million. Shareholders had a good year too, so on Wednesday they gave their approval to the oil giant’s executive pay program.
Investors at Exxon’s annual meeting cast about 78 percent of their shares in favour of the system, ignoring critics who said executive pay was too high. Shareholders also voted against resolutions that took aim at a controversial method of drilling for natural gas and called on Exxon to set targets for cutting greenhouse gas emissions.
