BP's CEO Pay Package Falls to 5.4 Million Pounds
BP's CEO Murray Auchincloss earned a reduced pay package of 5.4 million pounds ($6.95 million) last year, down from 8 million pounds in 2023, according to the group's annual report. The decline reflects a significant drop in profits for the year at $8.9 billion, which is 35% lower than the previous year. This decrease has also led to pressure on the company to strengthen its oil and gas business amid concerns from activist investor Elliott Investment Management.
- As corporate boards continue to grapple with the implications of declining profits, it remains to be seen whether CEOs will prioritize shareholder returns over long-term sustainability.
- What role should executive pay packages play in incentivizing companies to adapt to changing market conditions, and how can boards balance short-term financial performance with long-term strategic goals?