Browne’s Retirement Riches

The annual bonus for BP’s outgoing CEO John Browne was cut in half last year as oil spills and safety lapses in the United States overshadowed record profits for the oil giant.Browne’s annual performance bonus for 2006 was cut to around $1.74 million.

His basic salary rose to $2.95 million though. In total his total pay package was $8.8 million, although further share options could increase this to $14.55 million.

However his pension pot stands at $42.68 million with a retirement income of more than $1.94 million a year. An official defended the pension pot, saying it was based on 40 years of service for the company at the highest levels of the group. “He is worth it,” he added.

You tell that to the families of those killed at the fire in Texas..