From the ‘It’s Not Easy Being Green’ Department

From AP:

ANCHORAGE, Alaska - Two large BP PLC stockholders asked an Alaska court on Friday to freeze millions in retirement benefits for outgoing chief executive John Browne, saying he does not deserve compensation in light of recent crises at the oil giant’s facilities in Texas and Alaska.

At stake is at least $140 million in cash bonuses as well as stock, stock options, long-term performance pay and pension benefits, according to documents obtained by The Associated Press.

The motion, filed in Alaska’s Superior Court, asks that Browne’s retirement package be placed in a court-approved trust while shareholders litigate with BP over alleged violations of worker safety and environmental protection laws.

Browne’s obsession with placating enviros and with so-called “Corporate Social Responsibility” (CSR) got him to this place.

Hopefully, this item will eventually be moved to the “Just Desserts” file.

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Previous related posts:

• Jan. 17 — This Would Explain Why Browne Is Stepping Down Early
• Jan. 12, 2007 — BP: Browne Stepping Down Early
• Nov. 25, 2006 — Friedman and ‘Corporate Social Responsibility’ — It’s Not the Line That’s Blurred, It’s Peoples’ Thinking That Has Moved the Line
• Sept. 14 — BP CEO Lord John Browne Should Resign, Says Group
• Sept. 9 — The Corporate Social Responsibility Appeasers Are Probably Long-Term Market Underperformers
• Aug. 22 — Column of the Day, Plus Timeless Essay of the Day, on “Corporate Social Responsibility”