How BP's Tony Hayward Got Shortchanged

by Jared Paul Stern (RSS feed)
Aug 11th 2010 at 7:01PM

On July 26 my colleague Deirdre Woollard reported that ousted BP CEO Tony Hayward (right), who become the target of international ire after the company failed to contain the massive Gulf oil spill, will walk away with $1.5 million in salary and benefits plus a pension worth over $17 million, for a total of cashout of $18.5 million.

That may seem like a lot of money for someone who oversaw the worst ecological disaster in recent history and watched his company's fortunes plummet – but in fact Hayward's "golden parachute" is pretty damned paltry compared to other recently ousted CEO's payouts, the Economist points out.

For instance, Hayward's kiss-off is a whopping $191.5 million less than the $210 million received by Home Depot CEO Robert Nardelli in 2007, who departed the company after its share price plunged. After the jump you'll find the newspaper's selected ranking of CEO payouts, showing Hayward languishing in last place. So don't be too hard on the guy - compared to his other former CEO pals he's practically penniless and they're probably all making fun of him at the club:

1. Lee Raymond, Exxon Mobil, 2005: $400 million
2. Robert Nardelli, Home Depot, 2007: $210 million
3. Stan O'Neal, Merrill Lynch, 2007: $161.5 million
4. Charles Prince, Citigroup, 2007: $42 million
5. Fred Goodwin, Royal Bank of Scotland, 2008: $24 million
6. Tony Heyward, BP, 2010: $18.5 million

Tags: BP, business, CEO, CEOs, Citigroup, Merrill Lynch, oil spill, Tony Hayward, wealth

Filed under: Wealth, Crimes and Misdemeanors

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Reader Comments (Page 1 of 1)

Ole Guy Aug 12th 2010 9:59AM

POOR GUY! Let's start a "HELP HAYWARD" fund.

goldteam56 Aug 12th 2010 10:27AM

My heart really bleeds for Tony.... (who) oh yes, Hayward. I hurt so bad for him I have almost already forgotten his name and maybe I will in another day or two. Only 18.5 million, my how sad, he will most likely have to go on welfare. He may just movee to the state and go on food stamps. I doon't know how anyone could live on such a small amount.

goldteam56 Aug 12th 2010 10:29AM

My heart really bleeds for Tony.... (who) oh yes, Hayward. I hurt so
bad for him I have almost already forgotten his name and maybe I will
in another day or two. Only 18.5 million, my how sad, he will most
likely have to go on welfare. He may just movee to the state and go
on food stamps. I doon't know how anyone could live on such a small
amount.

goldteam56 Aug 12th 2010 10:30AM

My heart really bleeds for Tony.... (who) oh yes, Hayward. I hurt so
bad for him I have almost already forgotten his name and maybe I will
in another day or two. Only 18.5 million, my how sad, he will most
likely have to go on welfare. He may just movee to the state and go
on food stamps. I doon't know how anyone could live on such a small
amount.