Exxon Mobil
Gave CEO Raymond
$38M Package In 2004
Lee R. Raymond
Upset by high fuel prices? Don't bother phoning Lee R. Raymond with your sob story. He's the chief executive of Exxon Mobil (nyse: XOM - news - people ), which enjoyed a record-breaking year in 2004, no small thanks to those sky-high prices. The oil leviathan earned $25.33 billion in 2004, which an Associated Press report calls the highest profit ever for a U.S. company, after excluding earnings inflated by the sale of a business. Exxon's 2004 revenue was also a company best: $298.03 billion. In February, the petroleum behemoth surpassed General Electric (nyse: GE - news - people ) to become the largest U.S. corporation by stock market value, the report said. And there's no reason why the firm's leader shouldn't partake in those spoils. Exxon gave Raymond a $38 million compensation package. The CEO was paid $7.5 million in salary and bonus, plus restricted stock worth $28 million and nearly $2.6 million more in other compensation and incentives. That bundle was a jump up from Raymond's 2003 package, valued at some $27.9 million, including $6.8 million in salary and bonus and $17.9 million in restricted stock.

 
 

 Lee R. Raymond has been Chairman of the Board and Chief Executive Officer of Exxon Mobil Corporation (oil and gas) since December 1999. Mr. Raymond was Chairman of the Board and Chief Executive Officer of Exxon Corporation from 1993 until its merger with Mobil Oil Corporation in 1999.

Since joining the ExxonMobil organization in 1963, Mr. Raymond has held a variety of management positions in domestic and foreign operations, including Exxon Company, U.S.A.; Creole Petroleum Corporation; Exxon Company, International; Exxon Enterprises; and Esso Inter-America, Inc. He served as the president of Exxon Nuclear Company, Inc. in 1979, and moved to New York in 1981, when he was named executive vice president of Exxon Enterprises.

In 1983, Mr. Raymond was named president and Director of Esso Inter-America Inc., with responsibilities for Exxon's operations in the Caribbean, Central and South America. He served as the Senior Vice President of Exxon Corp. since 1984 and as its President from January 1987 to April 1993, and also served as its President in 1996.

Mr. Raymond has been a Director of J.P. Morgan Chase & Co. or a predecessor institution since 1987. He served as a Director of JP Morgan & Co. since 1987 and served as Chairman of the Committee on Director Nominations and Board Affairs and member of the Committee on Management Development and Executive Compensation. He served as a Director of Exxon Corporation from 1993 until its merger with Mobil Oil Corporation in 1999. He serves as a Director of United Negro College Fund; Chairman of American Petroleum Institute; Trustee and Vice Chairman, American Enterprise Institute; Trustee, Wisconsin Alumni Research Foundation; Member, The Business Council, The Business Roundtable, Council on Foreign Relations, Trustee of Southern Methodist University; Member of National Academy of Engineering, Emergency Committee for American Trade, National Petroleum Council; Secretary of Energy Advisory Board, Singapore-US Business Council, Trilateral Commission, University of Wisconsin Foundation.

A native of Watertown, South Dakota, Mr. Raymond graduated in 1960 from the University of Wisconsin with a Bachelor's Degree in Chemical Engineering. In 1963, he received a Ph.D. in Chemical Engineering from the University of Minnesota.
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