BP's CEO Faces Potential 30% Pay Cut Following Profit Shortfall and Elliott Intervention

In a surprising turn of events, BP's Chief Executive Officer, Bernard Looney, is potentially staring down a significant reduction in his compensation package, with projections suggesting a drastic 30% cut due to a recent miss in profit targets. This development comes in the wake of pressure exerted by activist investor Elliott Management, increasing scrutiny on the energy giant’s financial performance and strategic direction.

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