Halliburton’s CEO earned $10 million more in 2020, despite pledge to cut pay By Reuters – Investing.com


© Reuters. FILE PHOTO: Halliburton's president and CEO Jeff Miller, tours the floor at the NYSE in New York By Liz Hampton (Reuters) -The top executive for oilfield services firm Halliburton (NYSE:) Co earned roughly $10 million more in 2020 than the prior year, despite company pledges to reduce executive pay as the coronavirus pandemic crushed the oil industry, according to a regulatory document filed on Tuesday. Chief Executive Jeff Miller earned $22.3 million in 2020, versus $12.8 million the previous year. His compensation is 293 times that of the median compensation for his employees.

Halliburton laid off thousands of workers in the wake of the coronavirus pandemic, which destroyed fuel demand worldwide, and sent oil prices plummeting, causing numerous companies to throttle back spending. Halliburton employed roughly 40,000 people worldwide at the end of 2020, down from 55,000 a year earlier, according to its latest annual filing. While Miller’s base salary declined by $200,000 between 2019 ...read more...