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Bumper £8m pay package for Shell boss Peter Voser

Shell boss Peter Voser bagged a pay and shares deal worth up to £8million for 2012, according to the oil giant’s annual report.

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By Rob Davies: PUBLISHED: 22:26, 14 March 2013

Shell boss Peter Voser bagged a pay and shares deal worth up to £8million for 2012, according to the oil giant’s annual report.

The pay deal, for a year which ended with an accident that forced Shell to put its Arctic drilling plans on ice, is slightly down on the previous year.

But Voser will still walk away with a bumper deal made up of basic pay, cash bonuses and share awards based on performance.

The Swiss boss will take home a basic salary up 2.5 per cent to £1.4million, as well as a £2.9million bonus, half of which will be in shares that cannot be sold for three years.

The pay and bonus package is more than twice that earned by BP counterpart Bob Dudley, who did not get a bonus as the company continues its recovery from the Gulf of Mexico oil spill.

Shell (up 6.5p to 2218p) will also top up Voser’s bonus shares, depending on future performance, to a range between zero and £1.4million.

Voser picked up shares from a previous year’s incentive schemes worth £2.2million.

His pay deal came despite profits falling by 6 per cent to £17billion in a year that saw the firm’s Kulluk drilling rig run aground in Alaska. The accident forced Shell to put its Arctic drilling plans on hold, having already spent more than £3billion on the project.

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