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David J. O'Reilly was the Chairman and CEO of Chevron Corporation until he retired in 2009 after leading the company for nearly a decade. He had a degree in Chemical Engineering from University College Dublin, which set the foundation for...

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David J. O'Reilly

Ex-CEO of Chevron

Education

Bachelor's degree in Chemical Engineering from University College Dublin

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

Born

June 18, 1947 - 77 years ago

CEO of Chevron for

9 years 11 months (Jan 2000 - Dec 2009)

Previous Experience

Joined Chevron in 1968, served in various positions including President of Chevron Products Company and Vice Chairman of the Board

Holdings

See how much did David J. O'Reilly make over time.

During David O'Reilly's tenure at Chevron, his Inside trading activities were closely linked to the company's performance. Upon retiring, he had significant holdings but forfeited part of his stock options that were tied to his final year at the company....

Insider Trading

See recent insider trades of David J. O'Reilly.

No insider trades found for this CEO.

Compensation History

See how much did David J. O'Reilly make over time.

David O'Reilly's compensation at Chevron showed how much his leadership was valued. In his final year, he took home $5.2 million, mostly from his base salary of $1.75 million and a hefty bonus of $3 million. His bonus structure was closely tied to Chevron's performance metrics, ensuring he earned more when the company thrived. Back in 2008, he hit the highest note of his earnings with a total of $21.3 million. This included bonuses based on his contributions to Chevron's annual success and performance-based stock awards. His strategy not only reflected Chevron's financial health but also set a benchmark of executive pay tied to results that many companies try to emulate today. O'Reilly’s mix of performance and risk-based compensation illustrates the delicate balance executives must maintain to align with shareholder interests.

Year

2009

Total Compensation

$5.27M

Salary

$1.75M

Board Justification

Chevron's compensation philosophy emphasizes long-term performance and alignment with shareholder interests, with a significant portion of executive compensation being performance-based and at risk.

Bonus

$3.00M

Board Justification

Mr. O'Reilly received a CIP award of $3,000,000, which reflects his base salary multiplied by his CIP Award Target percentage of 125 percent multiplied by the Corporate Performance Factor of 110 percent, with the remaining amount attributable to individual performance assessment.

Other

$517.23K

Board Justification

Other compensation includes contributions to the Employee Savings Investment Plan, life insurance premiums, wellness credits, and cash payments in lieu of unused vacation.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards vested in 2009 as Mr. O'Reilly forfeited his 2009 stock option and performance share grants upon retirement.

Performance Metrics

The performance metrics for determining Mr. O'Reilly's compensation included corporate earnings, return on capital employed, and total stockholder return compared to peers.

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