Despite Pay Revolt, BP Shareholders Sticking With Dudley

The future of Bob Dudley at the head of BP  seems untarnished by shareholders’ unusual rejection of his pay package as 99.6 percent of them also backed his re-appointment and trust him to lead the company through a period of weak oil prices. For the 60-year-old American, who was given the top job following the 2010 Deepwater Horizon oil spill, the vetoing of his $20 million compensation package is the first major faux pas in his time as chief executive. Such a shareholder revolt would claim many a CEO’s scalp but Dudley seems unlikely to be removed as investor confidence in his leadership remains strong.