BP's Executive VP of Corporate Business Activities retires at AGM

12th Apr 2013 13:00

Oil giant BP has announced that its Executive Vice President of Corporate Business Activities, Dr Byron Grote, retired from the role on Thursday's annual general meeting (AGM). Grote was appointed as an Executive Director of BP in August 2000. No further details were given about his departure.The AGM proved to be an eventful one, with institutional investor Standard Life gave a surprise vote against BP's renumeration report, saying the company needs to "raise its game" in promoting the rights and interests of minority groups. Guy Jubb, Global Head of Governance and Stewardship at the asset management company, requested BP's pay policy to be strengthened and simplified, saying it was "concerned that the executives have the potential to receive significant rewards for achieving unchallenging performance targets". NR