Chevron paid its CEO $23.6 million in 2022, US SEC filing shows

HOUSTON (Reuters) - Chevron Corp CEO Michael Wirth was paid $23.6 million in 2022, a 4% increase from the prior year, according to a securities filing released on Wednesday.

Chevron's profit more than doubled in 2022 from the previous year to a record $36.5 billion due to high energy prices and cost-cutting measures including payroll reductions.

The total annual compensation for Chevron's median employee fell to $161,488 in 2022, from $183,531 a year before, according to the filing.

Wirth ranked 87th on a list of the 100 most overpaid CEOs in 2022 compiled by shareholder advocacy group As You Sow, which uses the total compensation instead of the actual pay in its ranking.

CEO compensations are on the rise this year, up 30% to an average of $38.1 million, according to As You Sow.