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Shell’s CEO Hits the Jackpot While Employees Scratch for Pennies

Posted by John Donovan: 14 April 2024

In a move that surprises absolutely no one, Royal Dutch Shell has defended its decision to shower CEO Ben van Beurden with a 126% pay increase last year. Because, you know, why should the average Joe get a decent paycheck when the big boss can swim in a pool of cash?

According to the oil giant’s annual report, van Beurden pocketed a jaw-dropping £17 million in 2018. And if that wasn’t enough to make you spit out your coffee, a hefty £13 million of that came from a long-term incentive plan. Talk about hitting the jackpot!

But wait, there’s more! Let’s not forget the cherry on top: a sweet £2.5 million annual bonus. Because who needs modesty when you’re already rolling in dough, right?

To put things into perspective, van Beurden’s paycheck is a whopping 143 times the salary of the average Shell employee. But hey, who’s counting when you’re too busy counting your millions?

Not surprisingly, this lavish display of corporate excess didn’t sit well with everyone. At last year’s AGM, over a quarter of investors gave Shell’s pay policy a big thumbs-down. But fear not, Shell insists they’re just “sensitive” to the debate.

And speaking of profits, Shell wants you to know that 2018 was a banner year for them. With underlying profits soaring by 36% to a staggering £16.3 billion, they argue that van Beurden’s payday is just a drop in the ocean of their success. Because who needs humility when you’ve got money to burn?

But wait, there’s more! Shell wants you to know that they’ve done their homework. They’ve meticulously compared van Beurden’s pay ratio to those of other FTSE 30 companies. And guess what? They’re totally in line with the competition! Never mind the fact that comparing apples to oranges is like comparing van Beurden’s yacht to your morning commute.

So there you have it, folks. Shell’s idea of fairness: make the CEO rich, and let the rest of us fend for ourselves. Because in the end, who needs equality when you’ve got bottomless pockets?

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