"BP Faces Shareholder Revolt Over Bob Dudley's Pay"

"Investors group will vent its displeasure during AGM by voting against £4.6m remuneration package for chief executive"

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"A substantial pay revolt will be mounted by shareholders at the annual general meeting of BP on Thursday following the board decision to give more than £4m remuneration to chief executive, Bob Dudley, despite a depressed stock price.

A group of investors will vote in protest against acceptance of this part of the company's remuneration report, emboldened by a negative recommendation from the shareholder advisory body Pirc.

BP is in the middle of a huge US court case over the Gulf of Mexico oil spill in 2010 that is still keeping its share price below that of rivals such as Shell and ExxonMobil.

Environmentalists and other representatives from the Gulf region are planning a noisy protest outside the ExCel building in London's Docklands but also hope to raise questions from the floor of the meeting."
     
Terry Macalister reports for the Guardian April 11, 2012.

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"Shareholders, Protesters Line Up To Lambast BP" (Reuters)

Thursday, April 12, 2012