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Shell revolt heats up

Daily Mail

City & Finance

Monday 25 May 2009 Page 60

SHAREHOLDER activists Co-operative Asset Management and PIRC have turned up the heat on directors of oil giant Royal Dutch Shell, writes Geoff Foster. 

They want them to hand back their bonuses and are calling for the head of Sir Peter Job, who chairs the remuneration committee. 

It follows the revolt last week, which saw 60pc of investors vote down the company’s generous executive pay policy. 

Shell antagonised investors by casually saying it would take the result Into consideration, indicating there would be no climb-down on its recent bonus pay-outs. 

Chief executive Jeroen van der Veer, who received a package worth £8.2m in 2008, was awarded 77,518 shares – worth almost £1.3m at current prices. 

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