By Adam Whittaker
The pay of BP's chief executive fell 31% in 2024 as the British oil giant failed to hit several safety, operations and financial-based targets.
Murray Auchincloss's total remuneration fell to 5.36 million pounds ($6.88 million) from 7.74 million pounds in 2023, the company said in its annual report.
The fall came despite an increase in his base salary to 1.45 million pounds from 1.02 million pounds the year prior. However, the CEO's annual share allowance dropped to 2.75 million pounds from 4.36 million pounds, and his annual bonus fell to 734,000 pounds, from 1.84 million.
Auchincloss recently reset the company's strategy in an effort to grow cash flow and shareholder returns as BP's full-year underlying replacement cost profit--a similar metric to net income that U.S. oil companies report--fell to $8.92 billion from $13.84 billion in 2023.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
March 06, 2025 08:24 ET (13:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。