What is Meg O'Neill's 'golden hello' from BP?

Meg O'Neill will receive a 'golden hello' of £11.8 million upon becoming BP's new chief.

What is the potential annual earnings for BP's new CEO?

BP's new CEO, Meg O'Neill, could earn as much as £17.7 million annually.

Why did BP's previous chief executive leave?

The previous chief executive departed following BP's costly green energy push and pressure from investors.

Home / Business and Economy / BP's New Chief Bags £11.8M 'Golden Hello'

BP's New Chief Bags £11.8M 'Golden Hello'

7 Mar

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Summary

New BP boss Meg O'Neill receives an £11.8m welcome package.
O'Neill could earn up to £17.7m annually in her new role.
Her predecessor's tenure ended after a costly green energy push.

BP's New Chief Bags £11.8M 'Golden Hello'

Meg O'Neill is poised to assume leadership at BP next month, a transition marked by an impressive 'golden hello' of £11.8 million. This initial payout, combined with her potential annual remuneration, could see her earnings reach as high as £17.7 million per year. O'Neill's appointment signifies a historic moment, as she becomes the first woman to lead the energy giant in its 117-year history.

Her significant compensation package includes an immediate cash payout of approximately £1.7 million and share awards valued at £10.1 million. These are intended to compensate for bonuses forfeited from her previous role and cover relocation costs. O'Neill's basic salary will be £1.6 million, with additional benefits and a potential annual bonus of up to 225% of her salary.