BP CEO Tony Hayward will receive $930,000 when he steps aside as the head of the company, the BBC reported today. According to the BBC: BP chief executive
“„BP chief executive Tony Hayward will get an immediate annual pension worth about £600,000 ($930,000) when he leaves in October, the BBC has learned.
“„BP pension scheme rules say that those who joined before April 2006 can take the pension at any point from age 50. Mr Hayward is 53.
“„He will also receive a year’s salary plus benefits worth more than £1m.
“„Mr Hayward’s pension pot is valued at about £11m and he will keep his rights to shares under a long-term performance scheme which could – depending on BP’s stock market recovery – eventually be worth several million pounds.