News & Politics

Transocean Execs to Donate Their Bonuses, Sort of


Earlier this week we mentioned the publicity trouble that Transocean, the company behind the Deepwater Horizon rig that exploded in the Gulf of Mexico last April, killing 11 and spilling millions of gallons of oil into the ocean, had gotten into by declaring 2010 the “best safety year ever!” and awarding bonuses to an array of top executives. The company since apologized for their insensitivity…and now five executives will be donating portions of their bonuses, for a total of $250,000, to funds for the families of the workers killed in the disaster.

They’ll be keeping, however, “about $650,000 in cash incentives” for “outstanding achievement,” among other things. Because they care.

Transocean chief executive Steven Newman said in a statement yesterday:

“Nothing is more important to Transocean than our people, and it was never our intent to diminish the effect the Macondo tragedy has had on those who lost loved ones… We offer our most sincere apologies and we regret the impact this matter has had on the entire Transocean family.”

The donated bonuses add up to about $22,700 per family, says Jeff McMahon at Forbes.

Transocean Execs Keep Most Of Their Bonuses [Forbes]

This article from the Village Voice Archive was posted on April 6, 2011

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