Oil boss Helge Lund to get £25 million for two months’ work

Oil boss to get £25 million for two months' work
Quite the pay-day for Helge Lund (Picture: Getty)

While people working on minimum wage would be lucky to bring in more than £2,000 in two months, one man might soon be standing on £25 million for just two month’s work.

Helge Lund, who has been in charge of a British company for just two months could walk away with up to £25million after a rival made a takeover bid yesterday.

The oil boss will be able to cash in on a lucrative share package if BG Group becomes part of Shell – and will be entitled to compensation as the £47billion merger would put him out of a job.

It comes after the Norwegian dubbed Mr Oil was handed a £10.6million golden hello, a £1.5million salary and a £485,000 relocation allowance when he took the helm of BG in February.

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Luke Hilyard, of the High Pay Centre, claimed the Arsenal fan’s likely total earnings were ‘impossible to justify’.

‘Lund hasn’t had time to make major strategic decisions,’ Mr Hilyard said.

‘He’s just been in the right place at the right time to benefit from wider economic factors – and a top pay culture that allows undeserving plutocrats to award each other preposterous amounts of money.’

Mr Lund – who made Norway’s Statoil a global force – was originally offered £12million to join ailing oil exploration giant BG, formerly part of British Gas.

The deal was revised after a shareholders’ revolt. It’s thought the 52-year-old may stay for a year to oversee the merger.

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8 April 2015 | 9:38 pm – Source: metro.co.uk


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