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About 50% of Shell Shareholders Fail to Back Bonus, FT Says

About 50% of Shell Shareholders Fail to Back Bonus, FT Says

By Sarah Shannon

May 20 (Bloomberg) — Just less than half of Royal Dutch Shell Plc‘s voting shareholders failed to back a plan to award three executives bonuses of 1 million euros ($1.57 million) each to stay in their jobs, the Financial Times reported.

One third of shareholders today opposed the plan, and combined with those who withheld their vote, 49.5 percent did not support it, the FT reported.

The company plans to pay the retention bonuses in 2011 to Peter Voser, chief financial officer; Malcolm Brinded, head of exploration and production; andLinda Cook, gas and power chief, if they are still in their jobs, the FT said. The trio are the likely candidates to succeed Chief Executive Officer Jeroen van der Veer who steps down in June next year, according to the newspaper.

To contact the reporter on this story: Sarah Shannon in London at[email protected]

Last Updated: May 20, 2008 18:37 EDT

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