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.
Board governance principles
The board operates within a system of governance that is set out in the BP board governance principles The board governance principles are designed to enable the board and BP's executive management to operate within a clear governance framework.
The principles describe the board's relationship with shareholders and executive management, the conduct of board affairs and the tasks and requirements for board committees. 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.
Directors' remuneration report 2014
View or download the report including details of executive and non-executive pay