BG Group Revises Lund's Remuneration Package

UK gas firm BG Group announced Monday that it has revised Chief Executive Helge Lund's compensation package in response to concerns from the company's shareholders about excessive remuneration.

BG said that the revised package means that a conditional share award previously proposed for Lund – whose move from Statoil to the company was announced in mid-October - will no longer be made. Instead, he will be granted an initial award of shares under the company's long-term incentive plan (LTIP) – with a face value equal to GBP 10.6 million ($16.6 million) – which will be subject to company performance conditions. These conditions are expected to include a combination of relative total shareholder return, cash flow and capital efficiency measures.

The firm added that the revised package reduces the expected value of Lund's initial share award from approximately GBP 10 million ($15.7 million) to approximately GBP 4.7 million ($7.4 million).


Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Controls Specialist
Expertise: Project Management
Location: Minneapolis
Quality Assurance and Training Specialist Job
Expertise: HR - General|HR - Trainer / Instructor|Risk Management
Location: Minneapolis, MN
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Columbia, SC
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours