Occidental Petroleum CEO Ray Irani's 2007 pay falls 56% to $25M
Occidental Petroleum reports 2007 executive compensation
By ExecPay News
Published: March 18, 2008
Occidental Petroleum reported fiscal year 2007 executive compensation information on March 18, 2008.
In 2007, six executives at Occidental Petroleum received on average a compensation package of $9.1M, a 53% decrease compared to previous year.
Average pay of disclosed executives at Occidental Petroleum
Ray R. Irani, Chief Executive Officer, received $25M in total, which decreased by 56% compared to 2006. 67% of Irani's compensation, or $17M, was in stock awards. Irani also received $1.7M in bonus, $584K of change in pension value and nonqualified deferred compensation earnings, $2.6M in non-equity incentive plan, $1.3M in salary, as well as $1.9M in other compensation.
Stephen I. Chazen, Chief Financial Officer, received a compensation package of $9.9M, which decreased by 50% compared to previous year. 72% of the compensation package, or $7.1M, was in stock awards.
John W. Morgan, Executive Vice President, earned $8M in 2007, a 1% increase compared to previous year.
R. Casey Olson, Executive Vice President, received $6.3M in 2007.
Donald P. de Brier, General Counsel, earned $3.1M in 2007, a 64% decrease compared to previous year.
U.S R. Casey Olson, Executive Vice President, received $2.9M in 2007.
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Source: SEC filing on March 18, 2008.