Written by Alan Shields – 06/04/2017 11:55 am
The 40% reduction, revealed today in the supermajor’s 2016 annual report, comes after a number of cost-cutting changes, including a 25 per cent reduction in bonuses handed out for hitting targets.
Dudley’s maximum payout under the firm’s long-term incentive plan is to drop from a seven times to five times his basic annual salary of $1.9million.
Last year, around 59% of shareholders opposed Dudley’s $19.4 million pay and benefits package, including his pension.