BP’s Incoming CEO Meg O’Neill to Earn £1.6 Million Base Salary

BP Plc will pay incoming Chief Executive Officer Meg O’Neill a base salary of £1.6 million ($2.1 million), 2.5% higher than that of her predecessor, Murray Auchincloss.

O’Neill’s annual bonus opportunity could reach up to 225% of her salary, while long-term performance share awards may total as much as 500% under the company’s remuneration policy, according to documents published Friday in BP’s annual report.

O’Neill, who will take the helm on April 1, replaces Auchincloss following his shock late-night ouster in December. He had returned the company to focusing on oil and gas after years of failed low-carbon ...