Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year’s annual shareholder meeting on Tuesday.
Although Shell’s shareholders approved the oil and gas group’s remuneration report, including chief executive Ben van Beurden’s 5.14 million euros (RM23.5mil) package, 14.17% of investors opposed it, up from 3.84% last year.
Royal London Asset Management, which holds Shell shares worth nearly £1bil (RM6bil), said it was “disappointed” that van Beurden received very close to the maximum possible bonus in a year when the firm’s overall financial performance was weak.
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Although Shell’s shareholders approved the oil and gas group’s remuneration report, including chief executive Ben van Beurden’s 5.14 million euros (RM23.5mil) package, 14.17% of investors opposed it, up from 3.84% last year.
Royal London Asset Management, which holds Shell shares worth nearly £1bil (RM6bil), said it was “disappointed” that van Beurden received very close to the maximum possible bonus in a year when the firm’s overall financial performance was weak.
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