Boss at BP gets a cut to annual pay award

How much did he get?

Bob Dudley, the chief executive of BP is set to have his annual pay award cut by a massive 40 per cent.

His pay package in 2016 only sat at $11.6m (£9.3m), this is down from $19.4m in 2015.

This comes after a rebellion by shareholders, last year they voted against Dudley’s pay award in 2015.

This rebellion made BP review its pay policy, this meant the chief executive would see a reduced maximum payout. The firm also said the resulting proposals will “better align pay and performance”.

The company said: “The proposed remuneration policy is designed to ensure a clear link between delivery of BP’s strategy and pay,”

“From 2017, we propose a simplified approach with a significant reduction in overall remuneration levels.”