Anadarko CEO's pay doubles in 2012 after promotion
March 25 (Reuters) - Total compensation for R.A. "Al" Walker, who took over as chief executive of Anadarko Petroleum Corp in May 2012, doubled last year as he took the top job at the U.S. oil and gas company, according to a regulatory filing.
Walker's total pay in 2012, which included salary, the value of stock awards and perks including monthly club membership dues, rose to $19.7 million, up from $9.8 million in 2011, according to a filing with the U.S. Securities and Exchange Commission on Monday.
Walker, 56, succeeded Executive Chairman James Hackett, 59, who will retire from the company in June. Walker, who was chief operating officer, will become the company's chairman at Anadarko's annual meeting on May 14.
Hackett received $17.7 million in total compensation last year, down from $23 million a year earlier, according to the filing.
Shares of Houston-based Anadarko were about flat last year. The company has met with much exploration success in the Gulf of Mexico and offshore Africa. But some investors are wary ahead of a judge's ruling in a $25 billion case brought against Anadarko by paint materials company Tronox Inc, a decision that could come at any time.
Tronox has claimed that when it was spun off in 2005 by Kerr-McGee Corp, which Anadarko later bought, it had been saddled with liabilities that led to its January 2009 bankruptcy filing. Tronox emerged from Chapter 11 protection in February 2011.