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The Wall Street Journal: A Raise for Van der Veer

Jeroen van der Veer Wall Street Journal image

Posted by Staff

Unlike his peer, BP CEO John Browne, Royal Dutch Shell chief Jeroen van der Veer got a raise last year.

Van der Veer was paid 3.69 million euros (about $4.9 million) last year, up from 3.48 million euros in 2005,according to Shell’s annual  report, filed yesterday. His pay was close to that of Lord Browne — but that CEO has taken pay cuts two years running, as his company deals with safety issues and a host of other problems.

Van der Veer, in contrast, oversaw a record annual profit in 2006 and a fourth-quarter gain of oil and gas production, long a sore spot for Shell. His 2006 compensation included a 2-million-euro bonus, a car allowance and transportation between his home and office. One assumes said car and transportation run on gasoline.

– Mark Gongloff

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Jeroen van der Veer is so desperate to secure hydrocarbon reserves after one third of Shell’s reserves vanished in the 2004 scandal, with more lost as a result of Shell’s Sakhalin2 humiliation in Russia, that Shell is now flouting all moral and ethical considerations by entering into a business relationship with the Iranian government. This is despite the fact that the Iranians are supplying roadside bombs which are killing American and British soldiers.

Posted by John Donovan, co-owner of the website

Comment by John Donovan – March 15, 2007 at 4:37 am and its sister non-profit websites,,,,,, and are owned by John Donovan. There is also a Wikipedia feature.

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