Carl Henric-Svanberg

BP Shareholders Show Anger At High Executive Pay

BP PLC (BP, BP.

LN) shareholders Thursday voiced their displeasure at the oil company's top management, accusing executives of having their "snouts in the trough," as some 11% of investors declined to back the company's pay awards.BP's annual general meeting almost two years since the Deepwater Horizon disaster in the Gulf of Mexico was also marred by scenes of environmental protests and a renewed revolt against Chairman Carl-Henric Svanberg, with more than 7% of shareholders refusing to support his reappointment.While both the remuneration report and motions to confirm senior directors remained in situ were endorsed by the vast majority of shareholders, the number of votes in opposition were a significant block for an event usually considered a formality.Chief Executive Bob Dudley was last month awarded a pay package of $6.8 billion, including bonuses, nearly four times the amount he made in 2010, when he and other directors eschewed bonus payments in the wake of the Deepwater Horizon ...

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