By Shruti Tripathi Chopra: City A.M.’s deputy news editor: Sun 21 May 2017
Royal Dutch Shell chief executive Ben van Beurden has come under scrutiny over his €8.26m (£7.1m) pay ahead of the FTSE-100 giant’s annual general meeting (AGM) tomorrow.
Pensions & Investment Research Consultants (Pirc) have advised shareholders to vote against the oil and gas giant’s remuneration policy.
Pirc branded van Beurden’s total pay, which was 453 per cent of his salary, “excessive”.
Shell revealed in March that van Beurden’s was paid €8.263m last year, up from €5.135m due to deferred bonuses and long-term incentive plans (LTIPs).
Investor advisory firm Institutional Shareholder Services said the oil giant’s pay policy is “not without concerns for shareholders”. However, it did not urge investors to vote against the board at the AGM.
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