April 10, 2018 / 7:42 PM / 10 days ago

Chevron's pay for former CEO Watson rose slightly in 2017

HOUSTON, April 10 (Reuters) - U.S. oil producer Chevron Corp said on Tuesday that compensation for former Chief Executive John Watson rose less than 1 percent last year.

The San Ramon, California-based company awarded Watson $24.8 million in compensation for 2017, when the company swung to an annual profit of $9.2 billion. The compensation includes a base salary as well as stock awards and other items, including use of the corporate jet.

Watson retired in February 2018. His pay was 180 times larger than the median compensation of $137,849 for Chevron’s 52,953 employees. (Reporting by Ernest Scheyder; Editing by Richard Chang)

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