Filing: Murphy Oil's CEO earned $8.5M
Roger Jenkins, chief executive officer of Murphy Oil Corp., was paid $8.5 million, including stock awards, in 2016, compared with about $14 million the year before, the company said in a proxy statement filed Friday with the federal Securities and Exchange Commission.
Based in El Dorado, the company a year ago froze base salaries for executive officers and cut other costs, as directed by Jenkins, after reporting a loss of nearly $2.3 billion in 2015 with the continued slump in oil prices. Oil prices rebounded somewhat in 2016, and the company reported a $276 million loss.
Jenkins' base salary in 2016 remained at $1.3 million, but stock awards dropped from $7.2 million in 2015 to $2.4 million. He also received a nonequity bonus of $1.9 million for 2016.
John Eckart, executive vice president and chief financial officer, received total compensation of $2.2 million, down from $2.6 million in 2015. Walter Compton, executive vice president and general counsel, earned about $2.2 million, down from about $2.7 million in total 2015 compensation.
The company will have its annual stockholders meeting at 10 a.m. May 10 at the South Arkansas Arts Center in El Dorado.
-- Stephen Steed
Wal-Mart to invest $800M more in Chile
Wal-Mart Stores Inc. will invest $800 million in its operations in Chile over the next three years and plans to open 55 to 60 new supermarkets.
The retailer outlined the investment plan for the South American country earlier this week and said the expansion will center on medium-sized stores. In addition to the new supermarkets, Wal-Mart will remodel more than 50 stores, add more than 5,000 jobs and work to expand its online market.
The company will continue developing a distribution center near the capital city of Santiago as well. The distribution center, which is already under construction, will employ 2,000 workers and require $180 million in investment.
Wal-Mart began operations in Chile in 2009 and had 363 stores in the country as of Jan. 31.
-- Robbie Neiswanger
12 stocks lower as state index falls
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 0.45 to 335.35 Friday.
Twelve stocks declined and six advanced.
Windstream shares fell 2.9 percent in heavy trading.
Simmons First National gained 1.8 percent on average volume.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 03/25/2017