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 16,804.71 -238.19 -1.40%
Nasdaq 4,422.09 -71.30 -1.59%
S&P 500 1,946.16 -26.13 -1.32%
Treasuries 2.40 -0.10 -4.19%
Data as of 5:10pm ET
Company Price Change % Change
Bank of America Corp... 16.82 -0.10 -0.62%
Ford Motor Co 14.59 -0.20 -1.34%
Facebook Inc 76.55 -2.49 -3.15%
Apple Inc 99.18 -1.19 -1.18%
Cisco Systems Inc 25.03 -0.18 -0.72%
Data as of 4:03pm ET

Sections

In the last five years, pumpkin sales have risen 34% as people demand pumpkin in everything from beer to beef jerky. More

New York City launches a comprehensive site for all things related to its digital tech scene, Digital.NYC. More

New York City launches a comprehensive site for all things related to its digital tech scene, Digital.NYC. More

For these seniors, the best retirement is not to retire. From a 102-year-old Wal-Mart worker to an activist park ranger, these workers have stayed on the job well into their golden years. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.