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MarketWatch: Shell CEO was paid $8.3M in cash, benefits shares in 2005

Mar 14th, 2006
by admin.

Mar 14, 2006
LONDON (MarketWatch) — Royal Dutch Shell PLC's chief executive was paid the equivalent of $8.3 million in cash, benefits and shares in 2005, according to the company's annual report filed with the U.S. Securities and Exchange Commission. According to the filing, Jeroen van der Veer received the equivalent of $4.3 million in cash and benefits during 2005, including EUR1.9 million in bonuses. In 2004, he was paid $3.3 million.
Van der Veer, who became CEO in 2004 following a reserves scandal, was also awarded 145,199 shares in the Anglo-Dutch major in 2005, worth an estimated $3.9 million, the document says.
News of the award comes after Shell set a new record in annual U.K. corporate profits last month, announcing full-year net profit of $25.311 billion, on higher oil and natural gas prices.
In the same SEC filing, the company said damage to onshore pipelines from hurricanes in the U.S. Gulf of Mexico caused 3,900 tonnes of oil spills, the largest being at Nairn and Pilottown in Louisiana in September.
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