IOD urges shareholders to vote against pay rise at AGM amid oil giant’s record losses
BP chief executive Bob Dudley will face shareholders on Thursday amid investor anger over his £13.8m pay package, after the oil company posted its worst-ever annual loss.
The Institute of Directors made a rare intervention on executive pay ahead of the AGM, urging BP shareholders to think twice before backing Dudley’s pay award.
Related: Institute of Directors weighs in on BP chief executive’s pay award