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BP CEO Dudley's 2018 pay slips to $14.7 million

BP CEO Dudley's 2018 pay slips to $14.7 million
Group Chief Executive of BP Bob Dudley poses for a photograph at the BP International Headquarters in central London, Britain, May 16, 2018. REUTERS/Henry Nicholls   -   Copyright  HENRY NICHOLLS(Reuters)
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LONDON (Reuters) – BP Chief Executive Officer Bob Dudley’s 2018 remuneration slipped to $14.7 million (11.29 million pounds) from a year earlier, as the oil and gas company’s profits doubled to a five-year high.

Dudley’s 2017 remuneration was revised upwards to $15.1 million from the previous $13.4 million due to changes in the value of BP’s shares over the period.

The drop in pay in 2018 was a result of a reduced annual bonus and pension, which was partly offset by a rise in BP’s share price, the company said in its 2018 annual report.

(Reporting by Ron Bousso, editing by Louise Heavens)

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