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BP shareholders vote to reject CEO Dudley'S $20 mln pay

Thu, 14th Apr 2016 13:07

LONDON, April 14 (Reuters) - A majority of BP shareholders voted on Thursday against paying Chief ExecutiveBob Dudley $20 million for 2015, in a rare move reflectingoutrage over the proposed remuneration after the oil companyposted losses.

Even though the vote is non-binding, BP executives said theywould consider it very seriously and that they were planning toreview the remuneration mechanism in the next few months. Some59.11 percent of shareholders voted against the pay.

Dudley was due to receive a $19.6 million compensationpackage for 2015, a year in which shrinking profit marginstriggered by sharp falls in the price of oil led to more than5,000 job losses at the company. (Reporting by Ron Bousso and Karolin Schaps; editing by DavidClarke)

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