BP rewarded its new chief executive, Murray Auchincloss, with an 8 million pay package following a better-than-expected profit in 2023.
The head of UK supermajor BP paid chief executive Murray Auchincloss £8m for 2023 on the back of a better-than-expected year. Figures published by the oil supermajor today showed Auchincloss’s base pay for the year was £1.6m with a variable performance-based top-up of £6.5m.
Chief executive of Ithaca Energy Gilad Myerson said the tax extension “continues to significantly impact investment” in the area and sector and denied the existence of ‘windfall profits’ owing to lower oil and gas prices against 2022 levels. A Shell spokesperson added to the ire, saying it marks, “yet another change to the UK oil and gas tax regime will further undermine industry confidence about investing in the North Sea.
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2023 Rolex Awards for Enterprise: five laureates announcedHannah Silver is the Art, Culture, Watches & Jewellery Editor of Wallpaper*. Since joining in 2019, she has overseen offbeat design trends and in-depth profiles, and written extensively across the worlds of culture and luxury. She enjoys meeting artists and designers, viewing exhibitions and conducting interviews on her frequent travels.
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