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Tesoro CEO's Pay Fell 18.6 Percent In 2008

Stock quotes in this article: TSO  

JOSHUA FREED

MINNEAPOLIS (AP) — The chief executive of oil refiner Tesoro Corp. saw his 2008 compensation fall 18.6 percent during a year when crude prices plummeted from all-time highs.

The San Antonio-based company paid Bruce A. Smith, its chairman, CEO and president, compensation valued at $8.8 million, according to an Associated Press analysis of a regulatory filing.

The pay included a salary of almost $1.3 million, up 8.2 percent from $1.2 million in 2007. He also collected stock and options valued at almost $6.9 million when they were granted on Jan. 30, 2008. ...

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