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Exxon awarded CEO total pay of $34.9 million in 2011

Exxon awarded CEO total pay of $34.9 million in 2011 12 Apr 2012 Exxon Mobil Corp's chief executive earned 20 percent more in 2011 than the year before, and the company said it saw no reason to change its pay practices, as had been urged by some investors. Chief Executive Rex Tillerson received $34.9 million in total compensation, up from $29 million in 2010, Exxon said in a proxy statement filed with regulators on Thursday. The CEO of U.S. rival Chevron Corp, John Watson, collected a total of $24.7 million in 2011, his second year in the job. That was a 52 percent increase from $16.3 million in 2010, according to Chevron's proxy, also out on Thursday. [Start reading.]