Shareholders told decision to award Bob Dudley £14m despite company’s worst-ever losses sends ‘the wrong message’
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.
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