Halliburton CEO takes home $17 mn
Halliburton, once run by US Vice President Dick Cheney, reported a $2.5 billion profit last year, reversing a $1 billion loss in 2004.india Updated: Mar 16, 2006 12:12 IST
Halliburton Co's top executive took home a compensation package worth about $17 million last year, when the oilfield services company returned to profitability, according to a regulatory filing.
Chief Executive Dave Lesar took home a bonus of $2.7 million -- the maximum amount set under his annual incentive targets because of the company's performance. Still, it was less than the $3.4 million he received in the prior year for helping steer the company through an asbestos settlement.
His base salary of $1.26 million remained unchanged, but his long term incentive payouts more than tripled to $2.7 million. He was also granted restricted stock awards of about $5.2 million.
Halliburton, once run by US Vice President Dick Cheney, reported a $2.5 billion profit last year, reversing a $1 billion loss in 2004 when it was hit by a large asbestos settlement. The company, like its peers, has also benefited from strong demand as oil and gas prices soar.
Apart from allowing Lesar to use the corporate jet for business and personal travel for security purposes, his perks are limited, the company said. Halliburton does not pay for any club memberships or provide him with any allowances.
He does, however, receive financial planning services, security measures at his home and an annual physical examination as part of "the company's general focus on health and wellness."