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Shell faces bonus rebellion

Reuters

Mon May 4, 2009 7:16pm EDT

LONDON, May 5 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is facing the risk of a shareholder revolt over pay for the second successive year, the Financial Times reported on Tuesday.

Two influential investor advisory groups have raised concerns about Shell’s plans to ask its investors to approve the board’s decision to make a discretionary performance-based award of shares to executive directors, the paper said.

The groups were said to believe that Shell had failed to meet its set targets, by being ranked fourth among its peer group of international oil companies.

Shell argues it only just came fourth, the paper said.

“It is excessive application of discretion,” the paper quoted a voting adviser as saying.

The value of the award was not disclosed, the paper said.

The FT said advisory group RiskMetrics has recommended a vote against Shell’s remuneration report at its annual meeting on May 19.

(Reporting by Avril Ormsby; Editing by Andre Grenon)

 

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