Tillerson’s $180 million payday
The feds blessed a $180 million retirement package for former Exxon CEO Rex Tillerson, just ahead of his confirmation battle to become Trump's Secretary of State.
Why it matters: If he hadn't cashed out his Exxon stake, he would've been tied to the company for hundreds of millions of dollars, similar to the way Cheney was tied to Halliburton. This deflated that concern. He still faces a tense debate about his cozy relationship with Putin.
Between the lines
- Forfeits $11 million in Exxon stocks and bonuses
- Prohibited from working in industry for 10 years