March 14, 2007
Steve Hawkes
The oil major proposes easier bonus targets as Jeroen van der Veer pockets £2.5 million for 2006
The oil giant Shell is altering its bonus structure to make it easier for main board directors to scoop bigger payouts, it emerged today.
The news came as the group’s annual report for 2006 showed that Jeroen van der Veer, the chief executive, took home more than £2.5 million last year, up 6 per cent.
Shell is proposing to modify its bonus structure so that Mr van der Veer and his board colleagues can receive more for “overall above-target performance” in any one year.
Instead of receiving between 100 per cent to 110 per cent of basic salary, Shell wants to be able to pay out between 110 per cent to 120 per cent.
The maximum bonus, including all elements, will remain 200 per cent, or two times salary.
A spokesman said that the move would put Shell in line with the rest of the industry.
“This ensures we are able to attract and retain the best,” he added.
The annual report shows today that Mr van der Veer’s basic salary climbed to £1.2 million last year after a 9.7 per cent pay rise, more than three times the rate of inflation.
He pocketed an annual bonus of nearly £1.4 million, given Shell’s record profits.
Shell also awarded Mr van der Veer shares worth £2.3 million under a long-term incentive scheme, but these are conditional on the group’s performance over the next three years.
None of the senior directors was paid anything under the long-term shares scheduled to vest in 2006 after missing shareholder total return targets in the past three years.
Shell’s annual report comes only a week after its fierce rival BP revealed that Lord Browne of Madingley stood to pocket a golden goodbye of up to £15 million this summer.
His pay packet fell to £2.5 million from £3.3 million in 2006 after BP halved the annual bonus payout.
http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article1513449.ece
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
