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Outrage over Shell CEO monster pay package

Shell’s CEO Ben van Beurden bows to Russian Leader Putin: Good Friday, 18 April 2014

Yesterday the Dutch newspaper Financieele Dagblad published a truly devastating article Shell gas leaks, fires and accidents about Shell playing fast and loose with the health and lives of its employees. Today there is mass coverage of the outrage over the £17m pay package awarded to Shell CEO Ben van Beurden. The revulsion also has to be seen against the damaging litigation engulfing the energy giant, including OPL 245 corruption charges and a related raid on Shell HQ involving BvB and his then CFO, Simon Henry. Both were embarrassed by a wiretapped conversation between them discussing obstructing the investigation and the revelation by BvB that Shell had hired hapless former MI6 “people” who had been cavalier with Shell’s OPL 245 secrets. Why is Shell rewarding such behaviour, which is completely at odds with Shell’s claimed business principles?  

Shell chief’s pay doubles to 143 times average UK employee’s

The chief executive of oil-company Shell saw his pay more than double last year to more than €20m (£17m). Ben van Beurden’s total salary in 2017, which was approximately €9m, prompted a shareholder revolt. The raise comes as the company increased its annual profits by almost $10bn and is largely down to long-term incentives kicking in. Dutchman Mr van Beurden’s pay is now 143 times larger than the average Shell employee in the UK.

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Union boss lays into Shell over ‘outrageous’ CEO pay

A trade union boss has slammed Shell for awarding its boss an “outrageous and undeserved” pay package in 2018. Unite regional industrial officer John Boland said Shell chief executive Ben van Beurden’s £17.8m deal was an example of “all that is wrong with the oil and gas industry”. Mr Boland said it was a slap in the face for many offshore workers whose wages have remained frozen while oil companies churn out huge profits.

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Shell stirs the pay pot with 126 per cent rise for its CEO

At a time when our nation is wracked with crisis and run by a malign government of self-serving incompetents, here’s Shell with something that’s comfortingly familiar: a good old-fashioned story of executive greed. The oil major has just published its annual report which reveals that Ben van Beurden took home €20m (£17m) in pay and bonuses last year. That represented a 126 per cent rise over the previous year, and 143 times what the average employee received.

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Shell CEO’s pay more than doubles to £17.2m

Van Beurden’s pay was three times more than the average of his fellow FTSE 100 chief executives in 2017, and 143 times greater than the average pay of Shell’s British workforce. For 2018, Van Beurden received €1.53m in base salary and benefits and an annual bonus of €3m. Benefits worth €32,000 may have included a car allowance, transport between his home and office, spouse travel and medical insurance. However, the lion’s share of the payment came from a 2016 long-term incentive plan, which paid out €15.2m.

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Shell boss bags £17m as pay packet doubles

The chief executive of Royal Dutch Shell will take home more than £17m for 2018 after doubling his pay packet from the previous year.

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Shell CEO’s pay more than doubles to $22.8 million in 2018

LONDON (Reuters) – Royal Dutch Shell Chief Executive Ben van Beurden saw his pay package more than double to 20.1 million euros (£17.13 million) in 2018, mainly thanks to a bonus and an incentive plan for delivering on targets, the oil company said on Thursday.

It was the second highest pay on record for van Beurden since he became CEO in 2014 and received 24.2 million euros that year – mainly because of changes in pension payments and tax calculations as a result of his promotion.

As the oil prices plunged, his pay fell to 5.6 million euros in 2015, before recovering to 8.6 million in 2016 and 8.9 million in 2017.

Shell said van Beurden’s role was critical in successfully integrating rival BG, delivering on a $30 billion divestment plan and “leading the sector in framing a methodology for aligning with the Paris (climate change) agreement”.

“We reviewed Shell’s CEO pay ratio externally against the ratios that we see in other FTSE 30 companies, which we calculated based on their disclosed employee numbers and employee costs,” Shell’s remuneration committee said.

“We believe our ratio is consistent with those seen in other FTSE 30 companies, although it is challenging to draw a meaningful comparison given the different markets and industries in which they operate,” it added.

Shell said its remuneration committee would include a new performance condition linked to the transition to lower-carbon energy for the long-term incentive plan grant starting in 2019, one year earlier than planned.

Reporting by Dmitry Zhdannikov; Editing by Mark Potter

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