Private equity firm Kimmeridge criticizes high exec pay in energy sector
By Reuters Staff 2 Min Read (Reuters) -Energy-focused private equity firm Kimmeridge Energy Management Co LLC on Tuesday released a white paper that criticized high executive compensations by U.S. oil producers in a year that marked one of the industry’s worst downturns. The COVID-19 pandemic and a price war between oil giants Saudi Arabia and Russia last year pushed crude prices to historic lows, worsening a more than six-year downturn that has left investors frustrated with low returns. Total compensation for chief executive officers of 27 U.S. oil producers declined 14% last year from 20...