Michael K. Wirth is the CEO of Chevron, a major player in the global energy industry. He joined Chevron back in 1982 and has held many important positions, gaining a wealth of knowledge about the company and its operations. Wirth...

Number of Employees

45.6K

Year

2023

Total Compensation

$22.12M

Salary

$1.85M

Board Justification

Chevron's compensation philosophy is designed to attract and retain management who will deliver long-term stockholder value, with a focus on competitive pay, performance alignment, and retention strategies.

Bonus

$2.61M

Board Justification

The bonus is based on the Chevron Incentive Plan (CIP) for the 2023 performance year, with a corporate performance rating of 0.95 applied to the individual bonus component.

Other

$436.45K

Board Justification

Other compensation includes contributions to the Employee Savings Investment Plan (ESIP), the Employee Savings Investment Plan Restoration Plan (ESIP-RP), financial counseling, and security costs.

Restricted Stock

$17.23M(111.16K RSU)

Board Justification

The stock awards that vested in 2023 include performance shares and restricted stock units (RSUs) that were granted in prior years, with the cash value realized on vesting amounting to $17,228,256.

Performance Metrics

Performance metrics for the CEO's compensation include financial results, capital and cost management, operating and safety performance, and lower carbon initiatives.

SEC Filing

From April 10, 2024

Michael K. Wirth

CEO of Chevron

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Education

N/A

Field of Expertise

Business & Management

Born

January 1, 1961 - 64 years ago

Is Founder?

No

Current Tenure

6 years 11 months (Feb 2018 - Present)

Previous Experience

Joined Chevron in 1982, served as Executive Vice President of Downstream and Chemicals, and President of Global Supply and Trading