Tuesday, October 19, 2010

BP (NYSE:BP) Connects Performance Rewards to Safety

An internal email from BP (NYSE:BP) Chief Executive Officer Bob Dudley to
employees said bonuses and rewards in the 4th quarter will be based solely
upon safety results.

A spokesman for BP said the new plan will be in place for this quarter only while the company develops an overall policy to address the issue going forward.

Bob Dudley said in the email communication that the progress made by each business "in reducing operational risks and achieving excellent safety and
compliance standards," would be how workers would be rewarded.

The goal he said was to ""to ensure that a low-probability, high-impact
incident such as the Deepwater Horizon tragedy never happens again." The key to achieving that goal, he added, is "the rigorous identification and
management of every risk we face."

As far as existing reward contracts, those would be honored by BP for the first three quarters of 2010.

1 comment:

Anonymous said...

BP has approved the launch of its new BPCares website. In an effort to control the PR narrative and to blunt the aggresive pressure from the BPAMA, retail marketers and independent retailers…BP will fast track the launch of the BPCares website. The website is expected to show the oil giant as deeply concerned about the environment and its eco-friendly legacy.

The domains that BP owns are:

BPCares.com

BPCares.net

BPCares.org

BPCares.info

BPCares.us

BPCares.biz

It seems that BP is teaming up with Southern states websites in advance of the BPCares launch.