No bonus for BP's Hayward

By Aaron Smith, staff writer


NEW YORK (CNNMoney) -- Former chief executive Tony Hayward and other BP officials, including current CEO Robert Dudley, did not receive an annual bonus for 2010 -- a year marked by a fatal disaster that fouled the Gulf of Mexico.

In its annual report, BP (BP) said that Hayward and Andy Inglis, the former head of exploration and production who left the oil company in 2010, received "contractual entitlements of one year's salary on termination, together with other limited entitlements."

Hayward's 2010 salary, converted into U.S. dollars from British pounds at the current exchange range, totaled $1.56 million. That compared to 2009, when he was paid a salary of $1.7 million with a bonus of $3.4 million.

Hayward stepped down as CEO in July, but remains with the company as director of its oil division in Russia.

Dudley, who replaced Hayward as CEO, was paid a salary of $1.9 million last year with no bonus, compared to a 2009 salary of $1.2 million with a bonus of more than $1.8 million.

Inglis was paid a salary of $936,000 last year with no bonus, compared to a 2009 salary of more than $1.1 million and a bonus of $2.1 million.

BP's reputation suffered dramatically when its Deepwater Horizon oil rig exploded and sank off the coast of Louisiana on April 22, killing 11 workers and covering the surrounding water and coastline with oil.

Hayward endured public criticism for various comments that appeared callous and aloof in the face of the environmental and economic disaster.

On May 30, he told reporters "There's no one who wants this thing over more than I do. I want my life back."

In June, Hayward's tone prompted criticism from President Obama and former White House chief of staff Rahm Emanuel. But that didn't stop him from taking a vacation to watch his yacht compete in a race. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,232.02 -53.72 -0.29%
Nasdaq 5,089.36 -1.43 -0.03%
S&P 500 2,126.06 -4.76 -0.22%
Treasuries 2.22 0.03 1.37%
Data as of 9:25pm ET
Company Price Change % Change
Bank of America Corp... 16.75 0.02 0.12%
Apple Inc 132.54 1.15 0.88%
Hewlett-Packard Co 34.76 0.93 2.75%
AT&T Inc 34.71 -0.36 -1.03%
Microsoft Corp 46.90 -0.52 -1.10%
Data as of 4:01pm ET
Sponsors

Sections

The record airbag recall and the GM ignition switch recalls has resulted in a huge percentage of cars on the road today having been recalled. More

The True Cost, a new documentary, chronicles the evils of the clothing industry and asks us to stop buying so much cheap stuff More

Sarah Kauss launched S'well to rid the world of plastic water bottles. In five years, she's sold 4 million of her stainless steel bottles. More