Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stock Market Tarrified as President Dump Risks Turning Recession into Stagflationary Depression - 21st April 25
President Dump Delivers BEAR MARKET - Stock Market Battles Between Order and Chaos - 7th April 25
Stocks Bull Market End Game Bear Start Strategy - 20th Mar 25
Gold and System Collapse: Charting the Bank Run of the Mighty US Dollar - 20th Mar 25
Tesla's Troubles — Is it Musk or is it More? - 20th Mar 25
The Stock Market Bear / Crash indicator Window - 9th Mar 25
Big US Tech Stocks Fundamentals - 9th Mar 25
No Winners When The Inflation Balloon Pops - 9th Mar 25

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

BP's Browne steps down with £60 million plus Golden Handshake

Companies / Oil Companies Apr 12, 2007 - 09:26 PM GMT

By: Phillipa_Green

Companies Institutional shareholders rewarded Lord Browne a golden handshake that could be worth more than £60 million, after much criticism from smaller shareholders at BP's AGM.


Shareholders voted 83 percent in favor of the package for Lord Browne, despite calls from some investors to reject the deal amid concerns over his inclusion in the company's latest three year incentive plan for directors, which runs until the end of 2009 and is expected to benefit Lord Browne by an additional $40millions on top of the £27 millions that he is due to leave office in July 07.

The Chairman of BP, Peter Sutherland defended Browne's inclusion in the incentive deal by saying “Lord Browne's retirement was brought forward by mutual agreement and he should not be penalized for the decision, given the years he has spent building up the company.”

This follows heavy criticism of BP due to poor safety which lead to the explosion at BP's Texas Oil Refinery in 2005 which killed 15 people and under performance of the BP stock price.

 

 

By Phillipa Green

(c) MarketOracle.co.uk 2005-2007


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in