SAN FRANCISCO, March 24 (Reuters) - Occidental Petroleum Corp (OXY.N) Chief Executive Ray Irani earned a total of $76.1 million in 2010, a year that saw a shareholder revolt over executive pay at the fourth-largest U.S. oil company.
Irani and successor Stephen Chazen will see dramatically lower pay in the years ahead after facing pressure from inevstors last year. [ID:nSGE69D0IY]
Oxy said on Thursday that Irani, who will hand the reins to Chazen in May after two decades as CEO, made $31.6 million in non-equity incentive plan compensation on top of $40.3 million in stock awards and a combined salary and bonus of $2.6 million.
That was more than double the $31.4 million in total compensation that Irani earned in 2009, according to a filing with the U.S. Securities and Exchange Commission..
As chief operating officer and president, Chazen earned a total of $38.1 million in 2010, up from $13.5 million the year before.
Shares of Occidental rose by nearly 21 percent in 2010, compared with a 12 percent increase in the Chicago Board Options Exchange index of oil companies .OIX. (Reporting by Braden Reddall, editing by Dave Zimmerman)