Please ensure Javascript is enabled for purposes of website accessibility

Chevron CEO Gets $3.5 Million Cash Bonus

By Eric Volkman - Apr 3, 2013 at 5:20PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The oil major's CEO pockets several million as a reward for the company's "strong" performance.

Chevron's (CVX 0.57%) board of directors has approved a multimillion-dollar bonus for CEO J.S. Watson. Under the oil major's incentive plan, he will receive $3.48 million in cash for his labors.

In an SEC filing detailing its executive compensation, the company said it determined this bonus -- and others awarded Watson's fellow top managers -- by taking into account "Chevron's strong 2012 financial and operating performance, including the second highest earnings in Chevron's history, strong total shareholder return, [and] safety performance," among other factors.

The executives awarded cash bonuses include CFO P.E. Yarrington, who received just under $1.34 million.

In addition to the bonuses, Chevron also raised the salaries of several of those top managers. Leading this group was Watson, whose annual pay was increased by $100,000 to reach $1.8 million. The raises took effect April 1.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Chevron Corporation Stock Quote
Chevron Corporation
CVX
$167.82 (0.57%) $0.96

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
331%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/20/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.