A fortnight after Shell's defeat, it's worth asking: what is Job waiting for? If he's hoping that shareholders' anger will abate, he will be disappointed. Fund managers remember how he referred to the bonus issue as "an irritant" and they are determined to be irritating.
Sir Peter Job
Shell investor anger will test patience of Job
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Shell board told to pay back bonuses
The backlash against executive pay took a dramatic new turn this weekend when shareholder activists demanded that Royal Dutch Shell directors return their bonuses.
They also called for the resignation of Sir Peter Job, the former senior Reuters executive who chairs the energy multinational's remuneration committee.
Shell’s “Golden Handcuffs” plan: Former Shell Exec Paddy Briggs, calls for the resignation of Shell Director Sir Peter Job
The bonuses are designed to keep the three executives (Malcolm Brinded, Linda Cook and Peter Voser) in the company, but, Job assured us, they are all uber-loyal to Shell and have no intention of leaving. Hmmm! Work that one out!
