CEO Bob Dudley's total pay package for 2016 was cut by 40% to $11.6 million, BP said in its annual report.
The reduction follows a rare shareholder revolt last year when 59% voted against Dudley's 2015 pay and benefits package worth $19.6 million.
Shareholders protested his pay getting bumped up 20% despite a weaker performance by BP (BP) in 2015, when it reported an annual loss of $5.2 billion and its share price slumped. Dudley still got his money since the vote wasn't binding. READ MORE