BP CEO Hayward Set For Massive $16 Million Payout If He Quits

tony hayward

BP Jun 21 2010, 04:15 PM EDT

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BP CEO Tony Hayward is set for a massive 10.8 million pound ($16 million) payout if he chooses to step down, according to The Telegraph.

The sum, to be paid out in 500,000 pound annual installments ($742,700) could end up being higher, according to experts at Hargreaves Landsdowne.

This information comes to light just hours after it was revealed that BP’s own internal estimates have oil leaking out of the Deepwater Horizon site at 100,000 barrels a day.

BP is already pursuing debt auctions and asset sales to deal with the rising costs of the oil spill.

Read more: http://www.businessinsider.com/bp-ceo-hayward-16-million-2010-6#ixzz0rWcEVopR

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