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BP freezes severance payments to former chief executive and refining chief |
| Home | (The Associated Press) - LONDON: BP PLC said Monday it has temporarily frozen severance payments worth around 2 million pounds (US$4 million) owed to former Chief Executive John Browne and former refining chief John Manzoni. Shareholders sought the freeze as part of a U.S. lawsuit seeking damages for alleged mismanagement by executives. According to the legal action, filed in the U.S. state of Alaska last October, shareholders were concerned they would not be able to recover money from Brown and Manzoni in the event they won the court case. |