BP 2013 Annual Report Download - page 99

Corporate governance
BP Annual Report and Form 20-F 2013 95
(b) Non-executive directors
This section of the directors’ remuneration report completes the directors’
annual report on remuneration with details for non-executive directors.
There were no changes following the review of non-executive
remuneration undertaken in 2012 which benchmarked the structure and
fees of BP non-executive directors against the 10 largest companies by
market capitalization in the FTSE100. In March 2013 it was agreed that the
chairman’s fee would be increased from 1 May 2013. There are no
changes proposed to the implementation of the policy for non-executive
directors and the chairman for 2014.
Fee structure
The table below shows the fee structure for non-executive directors from
1 May 2013:
Fee level
£ thousand
Chairmana 785
Senior independent directorb 120
Board member 90
Audit, Gulf of Mexico, remuneration
and SEEA chairmanship feesc
30
Committee membership feed 20
Intercontinental travel allowance 5
a
The chairman is ineligible for committee chairmanship and membership fees or intercontinental
travel allowance. He has the use of a fully maintained office for company business, a chauffeured
car and security advice in London. He receives secretarial support as appropriate to his needs in
Sweden.
b
The senior independent director is eligible for committee chairmanship fees and intercontinental
travel allowance plus any committee membership fees.
c
Committee chairmen do not receive an additional membership fee for the committee they chair.
d
For members of the audit, Gulf of Mexico, SEEA and remuneration committees.
The table below shows the fees paid for non-executive directors for the
years ended 31 December 2012 and 31 December 2013:
2013 remuneration (audited)
All fees in £ thousand 2013
Total fees
2012
Carl-Henric Svanberg 773a750
Paul Anderson 175 149
Admiral Frank Bowman 165 126
Antony Burgmans 145 120
Cynthia Carroll 120 98
George Davidb185 135
Ian Davis 150 128
Professor Dame Ann Dowlingc140 97
Brendan Nelson 130 119
Phuthuma Nhleko 150 123
Andrew Shilston 150 125
a
The chairman received a further £49,000 by way of taxable benefits.
b
In addition, George David received £12,500 for chairing the BP technology advisory council until
1 July 2013.
c
In addition, Professor Dowling received £25,000 for chairing and being a member of the BP
technology advisory council and £3,000 for an ad hoc technology advisory council meeting fee.
Non-executive director interests
The figures below indicate and include all the beneficial and non-beneficial interests of each non-executive director of the company in shares of BP (or
calculated equivalents) that have been disclosed to the company under the DTRs as at the applicable dates.
Current non-executive directors
Ordinary shares
or equivalents at
1 Jan 2013
Ordinary shares
or equivalents at
31 Dec 2013
Change from
31 Dec 2013 to
24 Feb 2014
Ordinary shares
or equivalents
total at 24 Feb
2014
Value of current
shareholding
% of policy
achieved
Carl-Henric Svanberg 988,077 1,039,276 – 1,039,276 £5,258,737 670
Paul Anderson 6,000a 30,000a– 30,000a $251,350 168
Admiral Frank Bowman 16,320a16,320a–16,320a $136,734 91
Antony Burgmans 10,156 10,156 –10,156 £51,389 57
Cynthia Carroll 10,500a10,500a–10,500a $87,973 59
George David 579,000a579,000a–579,000a $4,851,055 3,241
Ian Davis 10,866 11,449 – 11,4 49£57,932 64
Professor Dame Ann Dowling 11,630 22,320 – 22,320 £112,939125
Brendan Nelson 11,040 11,040 – 11,040 £55,862 62
Phuthuma Nhleko – – – – – 0
Andrew Shilston 15,000 15,000 – 15,000 £75,900 63
a
Held as ADSs.
Past directors
Sir Ian Prosser (who retired as a non-executive director of BP in April 2010)
was appointed as a director and non-executive chairman of BP Pension
Trustees Limited on 1 October 2010. During 2013, he received £100,000
for this role.
Peter Sutherland (who was chairman of BP until 31 December 2009)
continued his membership of the BP international advisory board after his
retirement from the board of BP p.l.c. During 2013, he received €100,000
for this role.