BP has revealed a 20% pay hike for chief executive Bob Dudley weeks after reporting a £3.6bn loss and announcing thousands of fresh job cuts.
The oil giant's annual report revealed Mr Dudley's total pay package for 2015 climbed to $19.6m (£13.8m) from $16.4m (£11.6m) the year before.
It prompted a claim that BP was another company that has "lost contact with reality".
BP reported a huge loss for 2015 last month after earnings were hit by the plunging oil price and the burgeoning multi-billion costs dogging the company in the wake of the deadly Gulf of Mexico oil rig blow-out in 2010.
It also announced 3,000 job cuts, to add to 4,000 that had been set out in January, blamed on the weakness in the oil market.
But the company hailed the performance of management in its annual report.
It said: "In an ever more challenging world BP executives performed strongly in 2015 in managing the things they could control and for which they were accountable.
"BP was one of the first to recognise the shift to a 'lower for longer' price environment and through early action delivered distinctive competitive performance on costs."
The figure for Mr Dudley's total pay was swollen by adjustments to the way BP stated his pension and retirement savings.
His annual basic pay rose to 1% $1.85m (£1.31m) while his annual cash bonus climbed 38% to $1.39m though other share-based elements of the package fell.
Stefan Stern, a director at the High Pay Centre, which monitors executive pay, said: "This is another example of where a company has lost contact with reality.
"Talking about bonuses and performance-related pay at a time of crisis in the industry does not seem like the real world."
0 komentar: