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The Guardian - UK

Business

Rob Davies

BP cuts boss’s pay by 30% after company misses profit targets

British Petroleum Murray Auchincloss Oil

Murray Auchincloss — Murray Auchincloss’s basic salary rose from £1m to £1.45m but the variable element of his pay dropped from £3.4m to less than £1m. Photograph: Amr Alfiky/Reuters

BP cut the pay of its chief executive after a chastening year in which the British oil company missed profit targets and ditched its green investment strategy as it came under pressure from a US-based activist investor.

Murray Auchincloss’s pay decreased by 30% to £5.4m for 2024, according to the company’s annual report published on Thursday.

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