BP CEO's pay packet branded 'unreasonable and insensitive'

BP shareholders will vote on whether their CEO will get an increase to his already considerable pay package, following outrage over the proposed 19.7% increase.

If approved by shareholders, Bob Dudley will take home $19.6million (£13.8million), despite BP racking up heavy losses in its most recent accounts.

Advisory groups Institutional Shareholder Services, Glass Lewis and Pensions and Investment Research Consultants have all advised shareholders to vote against Dudley's pay packet, City AM reports.

Major shareholder Royal London Asset Management also slammed the proposed increase, labelling it "unreasonable and insensitive”.