BP’s ever popular Chairman, Bob Dudley, has slightly put the nose of shareholders out by proposing a £14m pay packet at a time when the business is losing money. That seems slightly tactless to say the least.
He has, by way of mitigation, said that he thinks the oil price may recover soon. If it does, and BP’s profits recover, that will not be his doing. He seems to have come close to admitting that he is powerless in the face of oil price fluctuations – if that’s the case, why does he feel he can command £14m per year to sit and hope that OPEC solve his problems – earning a salary which equates to the total of 30 Royal Navy Commanders, 30 Army Generals, 30 Crown Court Judges and 30 NHS Consultants!