Royal Dutch Shell has seen a quarter of investors vote against chief executive Ben van Beurden’s bumper pay packet at the energy giant’s annual meeting, according to the Irish Examiner.
25.2% of its shareholders rejected the company’s remuneration report - which included a €8.9 million package for the Bruden last year.
The Irish Examiner reported that this is a 3.7% increase on last years package as Shell’s profits returned from extreme volatility amid falling oil prices.
In a statement made following the annual meeting, Shell said, “We respect the range of opinions that shareholders have and acknowledge the resources they can access to exercise their stewardship.
“We will continue to engage constructively with our shareholders to reflect carefully on any feedback we receive from them and would particularly welcome the opportunity to work with proxy advisers more closely in the future, to better serve shareholder needs.”
Shell is undergoing a boom period, as it announced in February that its full-year earnings in 2017 more than doubled on the previous year, driven by the surging cost of crude. First-quarter earnings for 2018 attributable to shareholders, excluding identified items, increased by $1.6 billion (€1.3 billion).
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.