Jillian Ambrose: 21 MAY 2016 • 7:47PM
Shell executives are braced for a shareholder backlash this week after influential retail advisor ShareSoc joined the growing rebellion against its multi-million pound executive pay.
The UK’s largest individual investor group will urge its 4,000 members to follow the lead of major Shell investor Royal London Asset Management and proxy institutional advisors in opposing Shell’s rising pay packet for boss Ben Van Beurden.
Mr Van Beurden is in line for a salary of £1.4m, a bonus of £3.5m, and a pension of £441,000 for 2015, despite reporting its steepest losses in 13 years and a planned job cull of 10,000. He has also received shares worth £9.7m, which vest in three years if he meets key performance targets.