LONDON | BY RON BOUSSO: Tue May 17, 2016
Two investor advisory firms have recommended Royal Dutch Shell (RDSa.L) shareholders oppose the CEO’s 2015 remuneration, in the latest sign of rising discontent over pay amid falling oil prices.
Shell Chief Executive Ben van Beurden’s 2015 remuneration fell 8 percent to 5.135 million euros (£4 million) last year, when the company’s revenue dropped sharply due to low oil prices.
Proxy adviser Glass Lewis said in a report it remains “concerned by the disconnect between bonus payouts and financial performance, and the bonus scheme structure more generally”.
In a separate report, adviser PIRC said “the ratio of CEO pay compared to average employee pay is 37:1, which is unacceptable”.
Both firms recommended shareholders oppose the remuneration packages in a vote at Shell’s annual general meeting in The Hague next week.
A Shell spokesman said Shell’s executive compensation “reflects delivery of our strategy, measured by both short-term and long-term targets. There is a clear alignment between the company’s performance and our compensation policies”.
Shareholders have become increasingly vocal over executive salaries and bonuses amid slumping earnings and lower commodity prices.
Last month, BP’s (BP.L) shareholders voted against Chief Executive Bob Dudley’s $20 million pay deal for 2015, a rare investor revolt for such a major company, after it recorded a record annual loss.
Van Beurden’s total 2015 package, including pension and tax equalisation, was 5.576 million euros, down from 24.198 million euros in the previous year, mainly due to a significant fall in van Beurden’s pension which was positively affected in 2014 by promotion to chief executive.
In April last year, Shell launched a bid for smaller rival BG Group which it completed in February this year for $54 billion.
(Reporting by Ron Bousso; editing by Susan Thomas)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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.
