BP looks to have shrugged off fears of a shareholder revolt over its executive pay policy after preliminary results showed 84% of shareholders voted in favour of its remuneration plans.
The votes cast by shareholders ahead of the annual general meeting make up about 59% of total shares.
The final result of the shareholder vote, including those who attended yesterday’s meeting, are expected to be revealed in the next couple of days, the BBC reported.
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The positive vote in favour of the oil firm’s pay policy came despite its chief executive Tony Hayward having received a 41% rise in his remuneration package in 2009 – meaning he was paid about £4m in salary, bonus and share awards.
Last year profits at BP fell by 45% to £9.2bn.
