Thursday, 15 March 2018

Shell chief executive Ben van Beurden pockets £7.8m in 11% pay rise



Royal Dutch Shell's chief executive, Ben van Beurden, took home almost £8m in pay and other awards last year - a rise of 11% on 2016.
 
The oil major's annual report showed his salary rose to £1.32m from £1.29m while he earned £2.6m in bonuses - a leap of 25%. The rest was largely made up of long-term incentive awards.
 
 
The company said the package reflected "strong" performance in a year that saw profits climb 242% to £8.5bn.


Shell had credited the performance on a recovery in oil and gas prices during a year that saw Brent crude top $70 a barrel for the first time in three years.


A supply glut and weaker economic activity had combined to take prices below $30 in early 2016.
 
 
An improved refining performance and higher production from new fields was also cited, along with tight cost control.


The chair of Shell's remuneration committee, Gerard Kleisterlee, said Mr van Beurden had "delivered on a number of fronts".



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