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New BP boss lands 20 per cent salary boost to £8m as oil giant’s profits soar
BP reported its second biggest profit in a decade — at a whopping £11billion
BP’s new boss has pocketed an £8million pay packet after the oil giant’s profits gushed even higher.
The huge award to Murray Auchincloss shows “the sickening reality of our broken energy system”, say angry campaigners.
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Alice Harrison, campaign leader at Global Witness, said his huge pay “contrasts with the millions of Brits in energy poverty”.
Mr Auchincloss bagged the bumper pay day after BP reported its second biggest profit in a decade — at a whopping £11billion.
It comes as energy prices still remain high after Russia’s invasion of Ukraine.
He was confirmed as BP’s chief executive in January after being parachuted in on a temporary basis last September.
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He has now landed a 20 per cent pay bump and 283 per cent boost in benefit allowances, which also includes security protection.
BP’s annual report shows the award is 103 times bigger than its own average worker earns.
Mr Auchincloss replaced disgraced chief Bernard Looney, who was shown the BP door after misleading the board about the extent of his personal relationships with colleagues.
The oil giant said that the former chief executive has forfeited share awards worth around £29million.
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And it has already clawed back £2.8million in salary and bonuses.
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