BP chief exec takes 32% pay cut

The chief executive of BP took a 32% pay cut last year, according to the oil giant’s annual report – as the company’s share price slumped to four-year lows.

Lord Browne of Madingley saw his remuneration cut from £5.7m (€8.38m) in 2001 to £3.9m (€5.73m) last year, reflecting the problems that have wracked Britain’s biggest listed company and its share price.