BP Faces Investor Revolt Over Chief Executive’s Pay

BP chief executive Bob Dudley faces a shareholder rebellion against his 20 per cent pay rise for 2015 — the same year that the oil company reported its worst ever annual loss. The size of the shareholder protest is growing, with BP holding last-minute talks with investors in an attempt to prevent a bruising confrontation at the company’s annual meeting next Thursday, said people familiar with the situation. BP has not ruled out changing the proposals under which Mr Dudley’s pay increases from $16.4m in 2014 to $19.6m in 2015 — although the company does not expect to lose the vote and is likely to stand firm.