BP Plc’s Chief Executive Officer Bernard Looney was paid £10 million ($12 million) in 2022, more than double the amount in the previous year as the company posted a record profit on surging oil and gas prices.
(Bloomberg) — BP Plc’s Chief Executive Officer Bernard Looney was paid £10 million ($12 million) in 2022, more than double the amount in the previous year as the company posted a record profit on surging oil and gas prices.
Looney’s total pay slightly exceeded that of his closest peer, outgoing Shell Plc CEO Ben van Beurden. On top of the BP boss’s salary of £1.4 million, he received an annual bonus of £2.4 million and long-term share award with a value of £6 million, which was below the maximum possible amount in both cases.
“The three years in which Bernard has been our CEO have been among the most challenging in BP’s recent history,” Paula Rosput Reynolds, chair of the remuneration committee, said in a statement on Friday. “During that time almost all of the metrics that we set forth – and which were endorsed by shareholders – have been met.”
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