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At BP's annual meeting, protests and shareholder backlash

BP's annual shareholder meeting in London was disrupted by protests against the oil giant's role in the Gulf of Mexico spill. And investors, including a large one representing Florida's public pension fund and holding $240 million in BP stock, registered disapproval with big votes against directors. According to wire reports, a group of five protesters from the Gulf, one of whom had covered herself in a black oil-like substance, were refused entry to Thursday's meeting by security guards and police. Other protesters who had bought shares did gain access to the annual meeting and, along with shareholders, quizzed management on its safety record. The company said it was working to change BP's culture. Still, 25 percent of investors who voted ahead of the meeting and represented 60 percent of shares voted against the re-election of the head of BP's safety committee, Bill Castell. That includes the Florida State Board of Administration, which oversees the state's public pension fund.

At BP's annual meeting, protests and shareholder backlash 04/14/11 [Last modified: Thursday, April 14, 2011 6:12pm]
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