Daily Mail

Boss of BP earns £9m – despite pay crackdown

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THE boss of oil titan BP has had his pay slashed following a revolt over huge rewards.

Bob Dudley took home £9.5m in 2017 – 13pc more than 2016 but 24pc less than he could have made.

BP said Dudley, 62, was entitled to more due to long-term performanc­e shares, but the pay committee used its discretion and decided not to award him the full amount.

There was a row in 2016 when Dudley was due £14m despite falling profits, job cuts and as BP continued to pay for the 2010 Deepwater Horizon oil spill which killed 11 men. Shareholde­rs rejected that pay packet, and his pay was cut to £8.3m

Pay committee chairman Ann Dowling, said: ‘BP performed strongly in 2017 and over the past three years, generating increasing returns.

‘In deciding executive pay for this period using our new policy... we believe we have fairly reflected BP’s performanc­e, the experience of shareholde­rs and the wider context.’

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