#8: Stephen Chazen, Occidental Petroleum
Total Compensation: $28.5 million
2012 Performance: -21%
Stephen Chazen made even more money than Chenault last year … despite downright ugly performance. The Occidental Petroleum (NYSE:OXY) CEO took home around $28.5 million on the year, even as earnings fell 30% and shares subsequently slid 21%.
Of course, lavish pay is hardly new for OXY … and hardly goes unnoticed. The company’s previous CEO, Ray Irani, was forced out in 2011 “amid activists’ complaints about excessive compensation and poor governance.”
Now, Chazen’s job is at stake. In February, the company’s board said it was seeking a successor for the relatively new OXY head honcho — something that has generated quite a bit of turmoil. In fact, many are even speculating that a break-up could be in the company’s future.
Still, Chazen seems to have plenty in his pockets to brace for an early exit.