Exxon's profits are falling, but CEO Darren Woods' compensation rose last year—here's how the oil giant rewards its top exec

Key Facts

In 2023, Woods’ total realized pay—meaning the total cash salary, bonus, and market value at the vesting of his stock-based awards—was $15.6 million, down from $18.1 million in 2022, but still higher than his $9.1 million in realized pay in 2021.
Woods said in his letter to investors that society has two essential asks of the industry: “reliably provide affordable energy and products critical to modern life, and reduce greenhouse gas emissions.”
To that end, the company is planning $20 billion in investments in lower emissions through 2027; half will be focused on reducing the company’s own emissions, while the other half will go to reducing emissions for third parties, said Woods.
The ExxonMobil board has endorsed the strategic plan and its investments through 2027, the company said in a filing.