Martin Waller
The rumbling outcry over executive remuneration will break out again at two annual meetings today, when the boards of Royal Dutch Shell, the oil group, and Next, the retail group, come under fire from angry shareholders over alleged overly generous bonus packages.
At Shell, investors are concerned that the remuneration committee has “moved the goalposts” and agreed awards even though the necessary performance targets have not been met. One, the Co-op, has said it will oppose the re-election of Lord Kerr of Kinlochard, who sits on the remuneration committee.
Another, Standard Life, has also spoken out against Shell’s remuneration polices. Under a three-year incentive scheme agreed in 2005, directors would have earned up to 200 per cent of their salaries in stock if the company had outperformed three of its peers. However, even though Shell ended in fourth place, directors decided to exercise their discretion and allow some of the award.
Next is facing investor anger for trying to boost directors’ pay by rewriting the bonus policy. The influential Association of British Insurers (ABI) claims that Next has flouted good corporate governance by changing the rules over bonuses part way through the financial year.
Simon Wolfson, Nexts chief executive, has countered that the big investors were consulted over the changes, brought in last summer. These allowed directors an extra £351,000. The ABI has issued a rare “red top” report, which alleges a serious breach of the rules over corporate governance.
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.
