BP Chief Suf­fers Re­volt Over CEO’s Pay Hike

The Economic Times - - Companies -

Bri­tish en­ergy pro­ducer BP has suf­fered a re­volt by share­hold­ers who ob­jected to in­creas­ing chief ex­ec­u­tive Bob Dud­ley's pay pack­age by 20% af­ter profit plunged last year. Al­most 60% of share­hold­ers re­jected the re­mu­ner­a­tion re­port, which awarded Dud­ley a $19.6 mil­lion pay pack­age even though the com­pany ex­pe­ri­enced a drop in profit and planned thou­sands of job cuts world­wide. But the vote was only ad­vi­sory, and merely reg­is­tered dis­plea­sure.


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