Hayward Receives BP Bonus for 2009-2011 Performance

BP awarded former chief executive Tony Hayward shares worth more than $1.1 million (GBP 700,000) in February under a three-year incentive scheme that ended in 2011, even though he left the company before the scheme ended, the company’s annual report showed Tuesday.

Hayward’s bonus also comes a year after BP decided not to pay bonuses for 2010 to any of its directors who had responsibility for operations in the Gulf of Mexico, where there was a major oil spill.

According to the annual report, Hayward received 144,422 shares on Feb. 15, worth GBP $1.13 million (GBP 719,221). Former exploration chief Andy Inglis, who also left the company after the Deepwater Horizon disaster, was awarded a bonus of 99,505 shares, worth $77,899 (GBP 49,551).

Three current board members — Chief Executive Bob Dudley, head of refining and marketing Iain Conn and former chief financial officer Byron Grote — were all awarded share bonuses under the scheme, even though they failed to meet five of the six targets that had been set for the period.

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