Latest update March 27th, 2026 12:40 AM
Darren Woods, other top Exxon executives to receive huge pay increases as record profits flow
(Kaieteur News) – Five Executives of US oil major, Exxon Mobil Corporation, are poised to receive salary increases as record profits continue to flow from strategic business decisions.
Shareholders of the company have been advised to vote for the new compensation packages that will benefit the Chairman and Chief Executive Officer (CEO), Darren Woods; Senior Vice President and Chief Financial Officer (CFO), Kathy Mikells; Senior Vice President, Neil Chapman; Senior Vice President, J.P Williams Junior and Senior President of ExxonMobil Global Operations, J.M Gibbs.
ExxonMobil CEO and Chairman, Darren Woods
As of January 1, 2026 Mr. Woods’ annual salary was increased to $2,141,000; Ms. Mikells to $1,354,000; Mr. Chapman to $1,362,000; Mr. Williams to $1,374,000; and Mr. Gibbs to $1,020,000.
A Securities and Exchange Commission (SEC) filing by Exxon on Tuesday morning indicated that in 2025, Woods received a bonus of almost US$4.1M or GY$800M. Other executives also received large bonuses in 2025 US$2.3M and US$2.6M.
In a letter addressed to shareholders of the company, Chair of the Compensation Committee, Angela Braly highlighted that over 90% of shareholders voted in favour of salary increases for executives since 2023.
At the upcoming Annual Shareholder Meeting scheduled for May 27, 2026 Exxon urged shareholders to vote in favour of the proposal to boost the salaries of the five executives.
Chair of the Compensation Committee said, “The Compensation Committee fully supports the design and resulting pay outcomes of the executive compensation program…in 2025, ExxonMobil delivered industry-leading results across all performance dimensions. Our disciplined approach to capital allocation and aggressive cost management led to $28.8B in earnings, $52B in cash flow from operations and $3B in structural cost savings.”
Currently, Exxon leads the chart where compensation is concerned when compared to other American companies such as Ford, Chevron, Verizon, Johnson and Johnson, Boeing and Pfizer to name a few.
While executives of ExxonMobil have been enjoying huge bonuses and monthly salaries, Guyanese continue to call for a fair share of their wealth being generated offshore. Only on Tuesday Kaieteur News reported that Exxon said it paid US$1.1B in taxes to Guyana that the country never received. Instead, Guyana’s Natural Resource Fund in 2025 barely received US$2,473,718,141 in profit and royalties.
In accordance with the lopsided Petroleum Agreement Guyana signed with the company in 2016 the country receives 2% of oil produced sold in the Stabroek Block. It also receives a profit share, equivalent to 12.5% after ExxonMobil deducts 75% monthly towards expenses and takes another 12.5% as its profit.
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Guyanese people starving because of the cost of living in my Country! People can’t afford to eat 3 meals daily… These strangers Just came, take our Oil, our wealth and go: Unbelievable: Kick ExonMobil out of my country now!