Money: Royal Dutch Shell boss see pay more than double to £17m - PressFrom - United Kingdom
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MoneyRoyal Dutch Shell boss see pay more than double to £17m

03:15  15 march  2019
03:15  15 march  2019 Source:   msn.com

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The bumper award is likely to reignite the debate about excessive executive pay .

The boss of Royal Dutch Shell received a mammoth 126% pay rise last year, pocketing 20.1 million euros ( £ 17 million) after higher oil prices boosted profits at the energy giant. Chief executive Ben Van Beurden saw his total pay packet climb from 8.9 million euros ( £ 7.6 million) to more than 15 million

Royal Dutch Shell boss see pay more than double to £17m © Daniel Leal-Olivas Shell chief Ben Van Beurden saw his total pay packet climb to £12.8m and also scooped a £2.5m bonus (PA)

The boss of Royal Dutch Shell received a mammoth 126% pay rise last year, pocketing 20.1 million euros (£17 million) after higher oil prices boosted profits at the energy giant.

Chief executive Ben Van Beurden saw his total pay packet climb from 8.9 million euros (£7.6 million) to more than 15 million euros (£12.8 million) as part of a long-term incentive plan.

He also scooped a 3 million euro (£2.5 million) annual bonus as part of the award.

It follows a strong annual performance by the oil giant, which in January revealed its biggest profit haul for four years.

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The chief executive of oil-company Shell saw his pay more than double last year to more than €20m ( £ 17 m ). Pay controversy. The Anglo- Dutch giant is the most valuable company listed in Britain. Last year, the boss of house builder Persimmon, Jeff Fairburn, was forced out after a row over his £

The boss of oil-company Shell saw his pay more than double last year to more than €20m ( £ 17 m ). Ben van Beurden's total salary in 2017, which was approximately €9m, prompted a shareholder revolt. The Dutch executive's rise comes as the company increased its annual profits by almost bn and is

Royal Dutch Shell boss see pay more than double to £17m © Photo by Igor Golovniov/SOPA Images/LightRocket via Getty Images Royal Dutch Shell Oil industry company logo seen displayed on smart phone.

The blue chip firm posted underlying earnings of 21.4 billion US dollars (£16.3 billion) for 2018, a rise of 36%.

As well as higher oil prices throughout the bulk of the year, Shell also benefited from dramatic cost-cutting, while it has likewise been selling off assets.

Mr van Beurden has been leading an ambitious efficiency drive since the industry was buffeted by the 2014 oil price crash.

However, the bumper pay award is likely to reignite the debate about executive pay.

Royal Dutch Shell boss see pay more than double to £17m Royal Dutch Shell chief executive Ben van Beurden speaks at a full year results conference in London on January 31, 2019. - Royal Dutch Shell today said that net profit surged 80 percent to $23.4 billion in 2018, thanks to higher oil prices and cost cuts. (Photo by Tolga AKMEN / AFP) (Photo credit should read TOLGA AKMEN/AFP/Getty Images)

Last year, more than a quarter of Shell investors voted against Mr van Beurden’s pay at the energy giant’s annual meeting.

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The boss of Royal Dutch Shell received a mammoth 126% pay rise last year, pocketing €20.1m after higher oil prices boosted profits at the energy giant. Shell chief executive Ben Van Beurden saw his total pay packet climb from €8.9m to more than €15m as part of a long-term incentive plan.

"We will see more of this going forward," said Mr Cumming. "The pressure is on for that, they will come round to statutory [carbon] metrics." Shell has now signed a joint statement with a group of 310 investors with more than trillion ( £ 25tn) of assets under management, dubbed Climate Action

The oil chief’s salary is 143 times that of the average Shell employee.

In its defence, Shell said it is “sensitive to the wider societal discussions regarding the level of executive pay”, adding that it spent a significant amount of time discussing the bumper payout.

The group said: “We reviewed Shell’s CEO pay ratio externally against the ratios that we see in other FTSE 30 companies, which we calculated based on their disclosed employee numbers and employee costs.

“We believe our ratio is consistent with those seen in other FTSE 30 companies, although it is challenging to draw a meaningful comparison given the different markets and industries in which they operate.”

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