U.S. energy executives have retained such lavish payouts even as they have struggled for years to deliver shareholder returns – despite massive growth in domestic shale oil production.
Now executives’ compensation is being insulated from the pain of the worst energy crisis in four decades, caused by the coronavirus pandemic. Stay-at-home orders to fight the virus have crushed demand for fossil fuels worldwide, forcing companies to cut thousands of jobs, slash billions in capital spending and, in some cases, fight for survival. On Thursday, NOV suspended its dividend to conserve cash.
http://www.oedigital.com/news/478881-why-u-s-energy-ceos-will-get-big-payouts-despite-oil-meltdown
