The man who advised BP on its controversial chief executive pay package has refused to sign-up to the industry’s code of conduct, according to reports.
Canadian Gerrit Aronson assisted BP’s remuneration committee, earning a £130,000 paycheck last year.
The 66-year-old has since refused calls to sign-up for the industry’s voluntary code of conduct, according Martin Read, chairman of trade association Remuneration Consultants Group (RCG),
Read told the Sunday Times, Aronson was one a handful of advisers to FTSE 100 firms, who failed to sign on the dotted line.
“We tried to convince him to sign-up, but declined to do so,” he said.
Bob Dudley’s 20% pay rise was pushed through by remuneration committee, led by Dame Ann Dowling, despite the firm axing thousands of jobs. The move sparked a shareholders’s revolt with 60% voting against the pay hike. BP has since said it would overhaul its pay policy.
Dudley has earned £53million at BP since 2010. Aronson has earned £410,000 in fees from BP since 2013.
Recommended for you
