Transocean Execs Give Up Fraction of Their Bonuses

Five top executives at Transocean, the company that owned the Deepwater Horizon drilling rig that exploded and sank in the Gulf of Mexico, gave up some $250,000 of the $898,282 in bonuses they received this month. The firm had been criticized for claiming a "best year" in operations safety of  after 11 people died on the rig. One quarter of the bonus amount was explicitly tied to safety.

Colin Barr reports for Fortune April 4, 2011, and Tom Fowler reports for the Houston Chronicle April 5, 2011.

"Transocean's Top Executives To Donate Bonuses" (Houston Chronicle)

"Bonuses Come First At Transocean" (Fortune)

"Transocean's Corporate PR: Who's Protecting Shareholders?" (Seeking Alpha)

"Gulf Oil Driller Transocean Beefs Up Lobbying, PR Team" (The Hill, 6/17/2010)

Wednesday, April 6, 2011