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    John B. Hess

    CEO at Hess Corp
    Board
    Since 1995
    Age
    70 years
    Tenure
    Joined HES in 1977, became an executive officer in 1983, and ascended to CEO in 1995.

    Also at Hess Corp

    AS
    Andrew Slentz
    SVP, Human Resources and Office Management
    BL
    Barbara Lowery-Yilmaz
    SVP and Chief Exploration Officer
    GS
    Gerbert Schoonman
    SVP, Global Production

    About

    John B. Hess has dedicated over 45 years to the oil and gas industry, beginning his career by joining HES in 1977 and quickly establishing himself as a committed leader. His progression through the company saw him taking on significant responsibilities, becoming an executive officer in 1983 and ultimately ascending to the role of Chief Executive Officer in 1995, a testament to his enduring commitment and strategic vision.

    Throughout his tenure, he has steered the company through various challenges and opportunities, contributing to its evolution and maintaining its focus on sustainable and environmentally responsible operations. His leadership reflects not only his professional expertise but also a deep personal commitment to the company's long-term success.

    Beyond his achievements at HES, his influence extends into broader financial and corporate governance circles, evidenced by his role as a board member at Goldman Sachs. While personal details and educational background are less documented, his career accomplishments provide a comprehensive view of a leader dedicated to industry innovation and responsible energy production.

    $HES Performance Under John B. Hess

    Past Roles

    OrganizationRoleDate RangeDetails
    KKR & Co. Inc. Former DirectorN/AN/A
    Hess Corporation Executive Officer1983 - 1995Position held before becoming CEO

    External Roles

    OrganizationRoleDate RangeDetails
    Hess Midstream GP LLC DirectorN/AGeneral Partner of Hess Midstream LP

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Salary$1,500,000AnnualFixed annual base salary
    Employees’ Pension Plan$2,186,568N/APresent value of accumulated benefit from a qualified defined benefit plan
    Restoration Plan$44,636,213N/APresent value under the non‐qualified pension restoration plan; 46.58 years of credited service

    Performance Compensation

    Data from  FY 2023

    Annual Incentive Plan (AIP)

    MetricDetails
    Performance Metrics & WeightingEHS (20%), Production (20%), Capital & Exploratory Spend (15%), Controllable Operated Cash Costs (15%), Returns & Cash Flow (15%), Exploration Resource Additions (15%)
    Threshold Payout$0 (0% of target)
    Target Payout$2,250,000 (150% of base salary)
    Maximum Payout$4,500,000 (200% of target)
    Actual 2023 Result165.5% of target; $3,723,800 awarded
    Evaluation Period2023 performance year
    VestingNot applicable (cash incentive)

    Performance Share Units (PSUs)

    MetricDetails
    Performance MetricsTotal Shareholder Return (TSR) CAGR vs. SPDR S&P Oil & Gas Exploration & Production ETF (XOP) with a ±10% S&P 500 modifier
    Achievement LevelsThreshold: -20% vs. XOP → 50% payout; Target: 0% → 100% payout; Maximum: ≥20% vs. XOP → 200% payout (capped at 210% with modifier)
    Grant DateMarch 6, 2023
    Grant Date Fair Value$6,900,071 for the PSU package; $178.80 per unit (realized)
    Grant Date Stock Price$141.95
    Number of Units GrantedThreshold: 19,296; Target: 38,591; Maximum: 81,041
    Vesting ScheduleVests in 3 years (2026), with payouts following performance certification
    Evaluation Period2023–2025 (three-year performance period)

    Stock Options

    MetricDetails
    Grant DateMarch 6, 2023
    Number of Options Granted72,498
    Exercise Price$141.55 per share
    Grant Date Fair Value$4,599,998
    Vesting ScheduleNot explicitly detailed
    Performance ConditionsValue contingent on stock price appreciation; no additional performance metrics

    Outstanding PSUs at Fiscal Year-End 2023

    MetricDetails
    Performance MetricsHess TSR CAGR vs. XOP with a ±10% S&P 500 modifier
    Achievement LevelsMaximum: ≥20% vs. XOP → 200% of target; Target: 0% gap → 100% payout; Threshold: -20% vs. XOP → 50% payout; Below threshold: 0%
    Grant DateMarch 6, 2023
    Grant Date Fair Value$6,900,071
    Grant Date Stock Price$141.95
    Number of UnitsThreshold: 19,296; Target: 38,591; Maximum: 81,041
    Vesting ScheduleVest in 3 years; payouts occur after performance certification in 2026
    Evaluation Period2023–2025 (three-year performance period)