Institute of Directors weighs in on BP chief executive's pay award

[malaise]

http://www.theguardian.com/business/2016/apr/13/institute-of-directors-bp-chief-executive-bob-dudley-pay-award
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The Institute of Directors has made a rare intervention on executive pay, urging BP shareholders to think twice before backing a decision to award $20m (£14m) to chief executive Bob Dudley in a year when the company ran up its worst-ever losses.

Simon Walker, the director general of the IoD, said the enormous remuneration deal for 2015 sent “the wrong message” to investors and other boards, given the $6.5bn annual loss and the decision to axe 7,000 jobs.

His comments came on the eve of what is likely to be a stormy BP annual general meeting in London, with the oil company facing criticism over a range of issues including controversial new drilling plans in waters off Australia.

“It is rare that the IoD intervenes on the subject of an individual chief executive’s pay. We are concerned, however, that Mr Dudley’s £14m pay package will seem unjustified to many shareholders, considering the performance of the company over the past 12 months,” said Walker.
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They are shameless