BP Spill Chiefs Miss Out on Bonuses

[ashling]

By JAMES HERRON

LONDON—BP PLC said Thursday it won't pay bonuses for 2010 to top executives who had responsibility during a fatal oil-well explosion in the Gulf of Mexico, but will pay reduced bonuses to two who met specific targets in their divisions.

Former Chief Executive Tony Hayward, former head of Exploration and Production Andy Inglis and current Chief Executive Robert Dudley will receive no cash bonus for 2010 and no shares under the long-term remuneration plan running from 2008 to 2010, BP said in its annual report to shareholders.

Head of refining Iain Conn and Chief Financial Officer Byron Grote will receive cash bonuses of £104,000 ($169,800) and $207,000 respectively for meeting targets within their own division. This is around 10% of the cash bonuses they received in 2009.

"The remuneration committee shared the group chief executive's view that no bonuses should be paid on group-level results," in the wake of the Macondo well blowout, which killed 11 men and triggered a huge oil spill in the Gulf of Mexico.
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Awwwww :sarcasm:

[Dappleganger]

1. But they are still employed.

[TheKentuckian]

2. Walking around free is more my problem, along with BP America not being nationalized

or at bare minimum, having their charter revoked.

[blindpig]

3. Shackled and on a permanent cleanup crew for life.

Expropriate without compensation.

[leftstreet]

4. LOL these execs are losers. They should have been on Wall Street

You can fuck up all kinds of things there and get HUGE bonuses