FILE PHOTO – Chevron Corp Michael Wirth speaks at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai
(This February 4 story corrects headline and paragraphs 1, 4 to show Wirth is eligible to earn $19 million, not “more than $28 million”.)
(Reuters) – Chevron Corp Chief Executive Officer Michael Wirth is eligible for $19 million in total pay this year, the U.S. oil and gas company said on Monday.
His annual base salary was set at $1.6 million, about $100,000 higher than a year earlier, a regulatory filing showed.
Wirth, who also serves as chairman of Chevron’s board of directors, was named CEO in February 2018 after a more than 30-year career at the San Ramon, California-headquartered oil major.
Wirth is eligible for a total compensation of $19 million, which includes performance shares, restricted stock units and options.
Separately, Chevron also named Pierre Breber as its next chief financial officer, effective April 1, replacing Patricia Yarrington who is retiring after 38 years at the company.
Breber, 54, joined Chevron in 1989, and most recently served as executive vice president of downstream and chemicals.
Reporting by Debroop Roy in Bengaluru; Editing by Sai Sachin Ravikumar