3 May 2024
BP CEO salary cut could mark beginning of executive pay reviews
Publication date: 07 April 2017
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
BP's decision to cut CEO Bob Dudley's salary could herald similar reviews, as influential corporate investors such as Norway's sovereign wealth fund continue to call for stronger links between salary packages and long-term performance.
The latest annual report by BP, released on Thursday, contained two big announcements – the UK major had turned a small profit after posting huge losses in 2015 and shareholders would get their way, with Dudley’s comprehensive pay to fall by some 40% year on year to USD 11.6 million.