Transocean's (NYSE:RIG) senior management team said last night they would donate the portion of their bonuses they earned from getting good marks on internal safety metrics to the families of the 11 men killed in last years Deepwater Horizon tragedy.
The donation will be made to the Deepwater Horizon Memorial Fund, established last year in the wake of the disaster, for donations by coworkers and friends to help the families of the 11 men lost in the accident.
The non-deductible sum will exceed $250,000. More than $1.6 million has already been distributed to the families to date.
"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," said Steven Newman, chief executive, announcing the bonus donations, in a news release on Tuesday. "The executive team made this decision because we believe it is the right thing to do."
The donation will be made to the Deepwater Horizon Memorial Fund, established last year in the wake of the disaster, for donations by coworkers and friends to help the families of the 11 men lost in the accident.
The non-deductible sum will exceed $250,000. More than $1.6 million has already been distributed to the families to date.
"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," said Steven Newman, chief executive, announcing the bonus donations, in a news release on Tuesday. "The executive team made this decision because we believe it is the right thing to do."
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