The BP board is responsible for the direction and oversight of BP plc (BP) on behalf of the shareholders and is accountable to them, as owners, for all aspects of BP’s business. The BP board believes that good governance involves the clarity of roles and responsibilities, and the proper utilisation of distinct skills and processes.
They outline the board's focus on activities that enable it to promote shareholders' interests, including the active consideration of strategy, the monitoring of executive action and ongoing board and executive management succession.
The board has developed these principles to help it fulfil its responsibilities and regularly keeps its work and performance under review. See Key downloads below to view the principles.
Remuneration is directly linked to strategy and performance, with a particular emphasis on matching rewards to results over the long-term. The remuneration policy was approved by shareholders at the 2014 AGM. 2015 was the second year that we reported the directors’ remuneration showing implementation of the approved remuneration policy. See Key downloads below to view the 2014 remuneration report and the approved remuneration policy.