Meeting with BP Chairman and Committee Chairs 23rd March 2011 St Jamess Square
Introduction Carl-Henric Svanberg 23rd March 2011
Gulf of Mexico Committee Ian Davis 23rd March 2011
Formation of Gulf of Mexico Committee Committee formed in recognition of the scale of the long-term response and to oversee the activities of BPs Gulf Coast Restoration Organisation (GCRO) Enables board to devote attention to…
Gulf of Mexico Committee: Members and attendees Committee membership: Ian Davis (Chair) Paul Anderson Sir William Castell George David Also Audit Committee member Also SEEAC member US-based Standing meeting attendees: Lamar…
Areas of focus Legal Includes all government, civil and criminal investigations, the multi district litigation, and the Natural Resources Damages Assessment process Claims Individuals and businesses (since late August…
Safety, ethics and environment assurance committee Sir William Castell 23rd March 2011
SEEAC: Membership and attendees Members: Sir William Castell (Chair): Chairman of Wellcome Trust and director of General Electric Paul Anderson: non-executive director of BAE Systems Ltd and formerly chief executive of BHP Billiton…
Areas of focus for SEEAC in 2010 Safety and operations Safety and operational risk function Executive oversight (GORC) Gulf of Mexico BP Investigation Report Independent Expert Continued assessment of progress against Baker…
2011 Plans and Priorities Gulf of Mexico Monitoring implementation of Bly Report recommendations Safety & Operational Risk Development and structure of S&OR Clarity of accountabilities Embedding OMS and group standards Enhanced…
Audit committee Douglas Flint 23rd March 2011
Audit Committee: Membership and attendees Members: Douglas Flint (Chair): Chairman (and formerly Finance Director) HSBC George David: Formerly Chief Executive and Chairman of UTC Ian Davis: Formerly Chairman and Managing Director of…
Areas of focus for the Audit Committee in 2010 Gulf of Mexico incident Reporting and accounting: including provisioning methodology Internal controls: initial response and in GCRO Business controls and risk US fuels value chain…
2011 Plans and Priorities Financial risk assessment Including work programme of internal audit function Debt and liquidity management Controls in new environments Upstream re-organisation JVs and acquisitions/disposals Audit…
Remuneration committee Dr DeAnne Julius 23rd March 2011
Remuneration Committee: Members and attendees Members: Dr DeAnne Julius (Chair): Chairman of the Royal Institute of International Affairs and previously a member of the Bank of England Monetary Policy Committee Antony Burgmans :…
2010 Pay Decisions Dominated by Deepwater Horizon Incident Salaries frozen during 2010 Except for promotion of Bob Dudley to CEO Last increase for others in July 2008 Annual bonuses eliminated or greatly curtailed No bonus for…
2011 Remuneration Policy Policy approved by shareholders in 2010 remains intact Salary increases for Conn and Grote Annual bonus 150% of salary at target and 225% maximum Deferred bonus 1/3rd mandatory deferral, additional 1/3rd…
2011 Work Programme RemCo remit expanded to include more active role on pay policy and practice below Board Major review underway (with the Group Chief Executive) Single policy approach for all leadership team (top 600) Focus on…
Nomination and chairmans committees Carl-Henric Svanberg 23rd March 2011
Focus of the Nomination Committee in 2010 Rapid Board evolution Executive and Non-Executive Chief Executive succession Ensure appropriate Board skills 21
Focus of the Chairmans Committee in 2010 Forum for NED discussion Support for companys response to Gulf of Mexico Succession and performance of group chief executive Succession planning within the group Working with Nomination…
2011 Plans and Priorities Nomination Committee Return to normal rhythm of Board evolution Focus on diversity within membership Committee composition Chairmans Committee Monitoring and support for the new Group Chief Executive…
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