The chief executive of BP has been rewarded for a year of bumper profits with a £5.65m pay package – equivalent to more than £15,000 a day.
Lord Browne of Madingley picked up £3.7m in pay and bonuses for 2004 when the record cost of crude oil sent profits rocketing to £8.7bn.
He also gained from share options worth £1.9m after BP performed well against four of its biggest rivals, including Shell.
Browne, who joined BP in 1966, was awarded a 5% rise in his basic salary to £1.4m last year and picked up an annual bonus of £2.3m for meeting financial and leadership targets.
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BP – the UK’s biggest quoted company – was accused of excessive profiteering by unions last month after its annual profits hit an all-time high.
Kevin Curran, general secretary of the GMB union said: “At a time when the minimum wage is set to edge over the £5 mark, this level of executive reward is cynical, unjustifiable and irresponsible.”
