March 18, 2020 / 5:30 PM / 13 days ago

Former BP boss Dudley's 2019 pay dropped by 13%

FILE PHOTO: Bob Dudley, Group Chief Executive of BP, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Lucy Nicholson

LONDON (Reuters) - BP’s (BP.L) former chief executive Bob Dudley’s 2019 remuneration drop 13% from the previous year to $13.23 million, the company said in its annual report on Thursday.

BP’s profit declined in 2019 but it raised its dividend after a rise in cash generation and production.

Dudley, 64, retired last month after a decade at the helm of the oil and gas company to be succeeded by Bernard Looney.

Reporting by Ron Bousso; Editing by David Goodman

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