Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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

Index Last Change % Change
Dow 16,204.97 -211.61 -1.29%
Nasdaq 4,363.14 -146.41 -3.25%
S&P 500 1,880.05 -35.40 -1.85%
Treasuries 1.85 -0.02 -0.86%
Data as of 7:32am ET
Company Price Change % Change
Bank of America Corp... 12.95 -0.30 -2.26%
Facebook Inc 104.07 -6.42 -5.81%
Freeport-McMoRan Inc... 5.68 -0.04 -0.70%
Microsoft Corp 50.16 -1.84 -3.54%
General Electric Co 28.54 -0.64 -2.19%
Data as of Feb 5
Sponsors

Sections

Anheuser-Busch has been the exclusive beer advertiser featured during the Super Bowl since 1975, and it's spent more on Super Bowl advertising than any other company for the last five years in a row. More

It was the first offer the South American nation has made to the holdouts which in Argentina are called "vultures." More

Laurie Segall sits down with Foursquare's new CEO Jeff Glueck to discuss the company's latest round of funding at a lower valuation, and their hybrid consumer/enterprise business model. More

Nonprofit JumpStart has launched a new $10M fund that will only invest in women and minority-led startups. The catch: You have to move to Ohio. More

Portland, Oregon, is often described as the last affordable cool city on the West Coast. But as more people move to the city, it's becoming increasingly unaffordable. More