LONDON, April 11 (Reuters) - Standard Life Investments, atop investor in BP has called on the oil company to shakeup its remuration code which it says could reward executives formeeting unchallenging targets.
Speaking at BP's annual shareholder meeting, Guy Jubb,global head of governance and stewardship at SLI also criticisedthe code for being over complicated.
"The 2013 remuneration policy... contains 15 differentperformance metrics to incentivise management, which speaks foritself. We want to see a simplified, cohesive policy that isdemonstrably aligned with BP's values and strategy," he said.
Jubb noted that SLI has voted against or abstained onremuneration resolutions at seven of the last eight shareholdermeetings.
"We want to see the Remuneration Committee raise its gameand make significant improvements to address our concerns," hesaid.