An advisory firm is telling Shell shareholders to vote down the pay deal of the company’s chief executive, a news report said.
Ben van Beurden’s total pay package, including bonuses and pension, came to £7.81million in 2017, up 11% from £7.04million the previous year.
Institutional Shareholder Services opposes the energy major’s remuneration plans on the grounds of “questionable” investor returns and safety performance, The Financial Times reported.
Some investors are understood to have been disappointed by a lack of clarity on the start date for the commencement of Shell’s share buyback programme.
Two hundred people died in a fire last year in Pakistan when a contractor road tanker overturned while transporting fuel from a Shell depot.
Shell told the FT it “strongly” disagreed “with several of the concerns set out in ISS’s voting recommendation”.
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