BP's Chairman Carl-Henric Svanberg is Underpaid

In a world where executives at the helm of multinational's make a fortune, Svanberg seems to be paid very modestly for a horrible job.

Carl-Henric Svanberg was appointed BP's Chairman in January.  He had no experience in the oil and gas industry.  Rather, he had been a controversial executive at Ericsson and was brought in to BP for what was perceived to be a vast array of contacts in Russia and China.  According to reports, he was initially reluctant to take the position, but decided that it couldn't be very difficult for the $1.1 million that he is paid annually.  Since he is a Swede and resides in Sweden, it is safe to assume that at least half of that money is taxed away, leaving him netting about $550,000.

So far, Svanberg who knows nothing about oil and has been in the industry for 5 months has travelled to the Gulf twice, absorbed tremendous criticism and a barrage of media coverage, and tried to defend Tony Hayward.   Today, he had to try to negotiate with Barack Obama with his back pushed up against the wall.  Now, he has to try to explain to BP's shareholders why he engaged in an agreement exposing BP to unlimited liability that will ultimately result in the company's demise. 

There is a price for anything and there is a price at which I would take Svanberg's job.  After today, I can safely said that it is a whole lot more than $550,000 a year.

Jason Rodgers
Jason Rodgers: Jason Rodgers was an experienced research analyst for a major bank prior to retiring to run his own investment consultancy in beautiful Lihue, Hawaii. Jason contributed articles to BestCashCow from 2008 to 2014.

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Comments

  • Underpaid?

    June 17, 2010

    Somehow I am not losing any sleep for poor Carl-Henric. After all, he likes small people.

  • AronLiv

    June 18, 2010

    The article is either misguided humor or you are another insensitive a-hole who works for BP.

  • mattias

    June 18, 2010

    Carl-Henric Svanberg is arrogant stupid idiot
    nonintelligent - he is very very stupid person
    shame for sweden

  • Treme

    June 18, 2010

    Why would anyone have sympathy for the guy who "turned Ericsson around" by doing nothing more than firing 55,000 employees. Btw, does he still collect a paycheck if he ends up in jail?

  • Small People

    June 18, 2010

    Carl's assurance that 20 Billion over four year period escrow funds will make things right in the gulf. This ia atleast one billion gallon oil spill when all done. At 20 dollars her gallon that is dirt cheap for BP. EPA fine per oil gallon is around $ 4,500 dollars. For a billion gallon spill it would translate to 4.5 trillion dollars. No one has that kind of money including BP.

    24 inch diameter pipe. 100,000 barrels of oil per day or 42,000,000 gallons per day
    How many days before the 1 Billion mark ?

    Carl any idea ?



  • Danita P. Brown

    July 10, 2010

    Tony Hayward came to me in 1985 and asked me to start an oil company! I did I named it BP Oil, from that time to this I have not received one cent from my corporation! I have another corporation that I am fighting to get control of also!

    I never knew that BP Oil would become so large, it has grown in leaps and bounds!

    I am praying that I get this situation along with the other corporation situation straightened out as soon as possible!

    I was hurt about the oil spill and catastrophy, it was as though I was running the corporation! I wrote President Obama about the situation and told him ways in which I thought the spill could be contained!

    my email address is brown.danita@ymail.com, if anyone has any suggestions to help me out in my dilemmas!!!

    help,

    danita

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