A £3.6bn loss and further job losses throughout the company mean BP Chief Executive Bob Dudley will have to restrict his pay rise to a meagre 20% this year.
Dudley said that after a challenging year for the company, limiting his pay rise to low double digits was the “right thing to do”.
“I will get by on just £14m a year because we are all in this together,” Dudley told shareholders.
“In these tough times there are difficult decisions to make, so I thought it only fair that the first of those difficult decisions was the one relating to my pay rise.
“I am bucking the trend of greedy out-of-touch CEOs seeking only to line their own pockets, by limiting my pay rise to a measly 20%
BP office worker Simon Williams said that learning his bosses bosses boss was only getting a pay rise of just over £2m a year made him feel a little better about his redundancy notice.
“Sure, I’m now without a job and still have a mortgage and a family to feed, but I just don’t know how Mr Dudley plans to get by with an extra £2m.
“I certainly couldn’t do it.
“The sooner we stop forcing our CEOs into opulent luxury against their will, the better off we’ll all be.”