BG Executive Directors Decline Bonuses After Output Lags

BG Group Plc (BG/)’s former Chief Executive Officer Frank Chapman and executive directors skipped bonuses in relation to last year’s performance after production targets were missed.

BG fell by a record 14 percent on Oct. 31, when it said output wouldn’t grow in 2013 because of project delays in the North Sea, U.S., Brazil and Egypt. Chapman was replaced by Chris Finlayson this year.

After the “share price fall in the final quarter of the year, it would be inappropriate” for directors “to be considered for a bonus in respect of 2012,” BG said today in its annual report.

BG shares are about 15 percent lower since the end of October.

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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