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Dutch pioneers blaze trail on executive pay

Financial Times

By Richard Milne in Amsterdam

Published: August 31 2009 20:22 | Last updated: August 31 2009 20:22

The VEB was one of the main parties behind the revolt at oil company Shell that led to the sensational result of 59 per cent of its investors voting against its remuneration plan after it paid discretionary bonuses despite missing targets. “I think that Shell made a conscious decision not to listen to shareholders … I think companies like Shell still don’t get the argument,” Mr Slagter says.

A senior director at Shell says that changes to the remuneration policy will come later this month. “We need to listen to shareholders much more. It wasn’t very pleasant what happened,” he says.

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