Hayward to get £600k annual pension payment

BP chief executive Tony Hayward will get an immediate annual pension worth about £600,000 (€715,000) when he leaves in October, it has been reported.

He will also receive a year’s salary plus benefits worth more than £1 million (€1.2m).

Hayward’s pension pot is valued at about £11m (€13m) and he will keephis rights to shares under a long-term performance scheme which could eventually be worth several million pounds.