Transocean heads want to donate bonus money

Managers of the Zug-registered offshore oil rig contractor Transocean have announced that they plan to donate their bonus payments to Deepwater Horizon victims.

This content was published on April 6, 2011 - 08:44 and agencies

Earlier this week the company drew criticism when it awarded its employees bonuses for its “best year in safety performance” – despite the Deepwater Horizon explosion last April.

CEO Steven Newman announced on Tuesday that he and four other Transocean managers want to donate their bonuses to a fund for the victims of the explosion. The five bonuses add up to $250,000 (SFr231,600).

The explosion at the rig on April 20, 2010 killed 11 people and leaked 780 million litres of oil into the Gulf of Mexico – making it the worst oil spill in United States history.

Safety accounts for a quarter of the executives' total cash bonuses. Newman’s total bonus for last year was $374,062 (SFr345,670).

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