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Executive Investigator
Tracking and Analyzing Executive Salaries, Bonuses, and Perks
 Thursday, April 12, 2007
Executive pay problems aren't only confined to the United States. A major investor revolt over retiring BP executive Lord Browne's compensation package. Investors who opposed the report were concerned over Browne's still undetermined, but potentially large, exit package and the lack of a specific link between directors' pay and the company's safety performance. Meanwhile, the company dismissed media reports that the executive was being overpaid, insisting that the majority of the reported figures by the media are in stock options that are based on speculative future prices. Moreover, the company argued that the changes he implemented as far as safety is concerned would benefit the company in the future - therefore this pay was also deserved. Despite the opposition, the measures passed by a vote of 83% to 17% in the company's latest proxy. The opposition underscores the increasing concerns that investors worldwide have over executive compensation, however.

Thursday, April 12, 2007 7:40:00 PM UTC  #    Comments [0]  |  Trackback
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