Norwegian oil major Statoil's STL.OL chief executive for the last 10 years, Lund will take over at the helm of Britain's third-biggest energy firm on March 2 with an initial share award cut from around 10 million pounds to 4.7 million pounds a year, after investors complained about plans to sidestep the company's usual remuneration policy.
LONDON (Reuters) - Oil and gas firm BG Group BG.L has cut millions of pounds off the pay package for its incoming chief executive Helge Lund, bowing to pressure from shareholders in the biggest such revolt over executive pay in recent years.īritain’s Business Secretary threw his weight behind disgruntled investors last week, urging the new chief executive’s “excessive” pay package to be voted down.
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