Published by Global Banking & Finance Review®
Posted on March 6, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleBP CEO Murray Auchincloss's pay fell to £5.4 million in 2024 due to lower profits and no performance bonuses, amid investor pressure.
LONDON (Reuters) - BP's CEO Murray Auchincloss earned 5.4 million pounds ($6.95 million) last year, the group said in its annual report on Thursday, down from 8 million pounds in 2023.
The group said it paid no bonuses on the basis of financial performance.
BP's profits for last year were 35% lower than the previous year's at $8.9 billion, and it is facing pressure from activist investor Elliott Investment Management to strengthen its oil and gas business.
The company is in the process of dialling back a number of ambitious renewables and emissions-cutting targets it had set itself since 2020. It has also dropped plans to cut oil and gas output by a quarter by 2030.
Over the last five years, BP's shares have underperformed its main European and U.S. rivals, virtually ending flat while shares in Exxon Mobil and Shell have risen around 110% and 49%, respectively.
($1 = 0.7766 pounds)
(Reporting by Shadia Nasralla; Editing by Jan Harvey)
The main topic is BP CEO Murray Auchincloss's pay reduction in 2024 and the company's financial performance.
BP's profits dropped by 35% due to lower financial performance and no bonuses were paid.
BP's shares have underperformed, ending flat over five years, while Exxon Mobil and Shell saw significant gains.
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