Did BP have to pay off their CEO when he was fired?



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    The former BP CEO Tony Hayward did in fact leave with quite a generous severance package of $18.5 million dollars.

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    Yes, and the amount may be startling to some. According to MarketWatch, Tony Hayward stood to earn a minimum of $1.5 million (equivalent to one years’ salary) should he get booted out by the board of directors, as long as the reason was not for “actual malfeasance.” However, in addition to the little severance bonus, Hayward will also earn approximately $900,000 a year with his pension. 

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