May 22, 2012
By Alexis Flynn
(Updates with details, context, background throughout.)
LONDON (MarketWatch) — Royal Dutch Shell PLC (RDSA, RDSB.LN) shareholders showed their ire over high executive pay with 9% of investors rejecting the company’s remuneration report at Shell’s annual general meeting Tuesday.
While the overwhelming majority of Shell shareholders backed paying Chief Executive Peter Voser EUR11.7 million and former exploration director Malcolm Brinded EUR11.4 million for their 2011 performance, the number opposed rose substantially from last year, when only 2% of investors voted against the remuneration report.