Exxon’s former CEO Rex Tillerson received a $180 million retirement package, according to the Wall Street Journal, as he prepares for congressional hearings to confirm his nomination as President-elect Donald Trump’s Secretary of State.
He stepped down from Exxon Mobile on January 1, 2017.
Tillerson’s unvested company shares will be put into a trust but most of his shares will be sold off, according to the Journal. Tillerson expects to take a loss of about $7 million, by deciding to serve in Trump’s administration.
His confirmation hearings begin on January 11.