Jubb last week held Sir Peter Job, head of Shell's remuneration committee, to account over a decision to agree bonuses for top bosses, even though Shell had fallen short of its targets
May 23rd, 2009:
Battle of the bonuses targets a $100m boss
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johndonovan.website, and shellnews.net,
are owned by John Donovan. There is also a Wikipedia segment.
Wave of pay rows is an urgent wake-up call
Daily Telegraph
By Mark Kleinman
Last Updated: 9:35PM BST 23 May 2009
As if boardroom recruiters werent already finding it difficult enough to land their catches, this years round of investor pay rows looks certain to add another category to the list of City pariahs: the chairmen of remuneration committees.
He may not boast the same notoriety as the Sir Fred Goodwins of this world, but Sir Peter Job, who heads the group that decides directors pay at Shell, knows what it is like to be on the receiving end of a barrage of shareholder criticism all the same.
An Early Start in the Oil Industry
LINDA COOK: Executive director, gas and power, Royal Dutch Shell, the Netherlands
Shell bonus rebels want Job to go
May 24, 2009
Remuneration chairman under fire after bosses cash in despite poor performance
ANGRY investors in Royal Dutch Shell are this weekend calling for the head of Sir Peter Job, the director at the centre of last weeks embarrassing pay revolt at the oil group.
Shareholders think the removal of Job, former chief executive of news group Reuters, should be the first step in the shake-up of a boardroom criticised as being out of touch.
The changes are being demanded after a decision to pay £3.65m in bonuses to executives despite missing performance targets. As head of the remuneration committee, Job waved the payments through.
Shell can be sure of pumping up volume of investor anger
May 23, 2009
Patrick Hosking
Institutional investors have a new bonus quandary to wrestle with: Sir Martin Sorrell’s proposed package of up to $95million is eye-catching for all the wrong reasons.
But first they need to draw a line under the separate pay row at Shell. To recap, the board overrode the formula previously agreed to decide top executive bonuses and exercised their discretion to make an award anyway, even though the management target was missed. Shareholders this week voted 59 per cent against the remuneration report, a resounding vote of no confidence in the board’s remuneration committee.
Big shot: Investors left to wonder whether Sir Peter Job is man for the Job
But Sir Peter blundered into the minefield again as chairman of the remuneration committee at Royal Dutch Shell, which decided that performance targets previously set should be ignored and that some of the money should be paid regardless.
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