x404.co.uk
http://www.x404.co.uk/forum/

BP boss Hayward to get immediate £600,000 pension
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=9683		 Page 1 of 1
Author:  Amnesia10 [ Tue Jul 27, 2010 12:06 am ]
Post subject:  BP boss Hayward to get immediate £600,000 pension
http://www.bbc.co.uk/news/business-10434908

Quote:
BP chief executive Tony Hayward will get an immediate annual pension worth about £600,000 ($930,000) when he leaves in October, the BBC has learned.

Mr Hayward is to stand down after sustained criticism of his handling of the Gulf of Mexico oil leak.

However, a BP source said he would be nominated for a non-executive position at the firm's Russian joint venture.

This might not go down well with the Americans.
Author:  Linux_User [ Tue Jul 27, 2010 12:08 am ]
Post subject:  Re: BP boss Hayward to get immediate £600,000 pension
Amnesia10 wrote:
This might not go down well with the Americans.


Who cares? As far as I understand, Deepwater Horizon was owned and under the control of Transocean, an American oil company! :?
Author:  lumbthelesser [ Tue Jul 27, 2010 12:20 am ]
Post subject:  Re: BP boss Hayward to get immediate £600,000 pension
Linux_User wrote:
Amnesia10 wrote:
This might not go down well with the Americans.


Who cares?

+1
Author:  big_D [ Tue Jul 27, 2010 5:39 am ]
Post subject:  Re: BP boss Hayward to get immediate £600,000 pension
Linux_User wrote:
Amnesia10 wrote:
This might not go down well with the Americans.


Who cares? As far as I understand, Deepwater Horizon was owned and under the control of Transocean, an American oil company! :?

And Halliburton, both of which are part-owned by Dick Cheney... Anyone want to guess why they got the insurance money paid out without question and have never been grilled over why it all went pear-shaped? :roll:

Me? Sour? What makes you think that? Just because I inherited a bucket load of BP shares, just after the price collapsed... ;)
Author:  Amnesia10 [ Tue Jul 27, 2010 6:22 am ]
Post subject:  Re: BP boss Hayward to get immediate £600,000 pension
big_D wrote:
Me? Sour? What makes you think that? Just because I inherited a bucket load of BP shares, just after the price collapsed... ;)

Very handy for inheritance tax purposes. Though as you say the day to day running of this was down to American companies. For BP the CEO is not generally involved in day to day operations of an overseas operation. That will be down to managers closer to the business. They might have more problems to resolve in day to day matters. Though this is nothing like the Fred Goodwin debacle.
Author:  l3v1ck [ Tue Jul 27, 2010 10:48 am ]
Post subject:  Re: BP boss Hayward to get immediate £600,000 pension
So how does that work? He earned £450k a year wages, not he gets £600k for doing nothing. Am I missing something?
Author:  jonlumb [ Tue Jul 27, 2010 10:54 am ]
Post subject:  Re: BP boss Hayward to get immediate £600,000 pension
l3v1ck wrote:
So how does that work? He earned £450k a year wages, not he gets £600k for doing nothing. Am I missing something?


I'm guessing that there were substantial bonuses on top of the £450k. It may also have been to persuade him to jump rather than having to push.
Page 1 of 1 All times are UTC
Powered by phpBB® Forum Software © phpBB Group
https://www.phpbb.com/