Lord Brown - £63 million quid richer.There have been a number of interesting discussions on Tom Peters Blog about many massive pay offs there have been recently in the business word for Chief Executives of failing or failed companies. Many pay offs come after disastrous company performance and this causes mixed feelings from observers about the merits of paying someone for … lets face it ‘screwing up.’
I was therefore interest to read this Daily Mail story last week (click here) about Lord Brown, Chief Executive of BP who was paid off last week with the paltry amount of £63million. I guess that will just about enable Lord Brown not to worry too much about where his next meal is to come form. I understand Lord Brown has spent his whole career at BP and I am pretty sure from what I have read that he did a great job earlier in his career. The fact remains that under his leadership the ‘wheels have come off’ and BP share price and profits have tumbled.
Two questions to Simplicity readers:
1 Is it fair CEO's get pay-offs when company results are poor?
2 Do you think this amount (£63 million) is reasonable or not?
I was therefore interest to read this Daily Mail story last week (click here) about Lord Brown, Chief Executive of BP who was paid off last week with the paltry amount of £63million. I guess that will just about enable Lord Brown not to worry too much about where his next meal is to come form. I understand Lord Brown has spent his whole career at BP and I am pretty sure from what I have read that he did a great job earlier in his career. The fact remains that under his leadership the ‘wheels have come off’ and BP share price and profits have tumbled.
Two questions to Simplicity readers:
1 Is it fair CEO's get pay-offs when company results are poor?
2 Do you think this amount (£63 million) is reasonable or not?
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