Here’s why
Ben Van Beurden, boss of Royal Dutch Shell, was dealt a massive blow yesterday after more than a quarter of the company’s investors voted against his multi-million euro payout for last year.
The top boss faced a shareholder revolt yesterday after an accident in Pakistan last year claimed the lives of more than 200 people in an explosion of a fuel tanker operated by one of the energy giant’s subsidiaries.
Institutional Shareholder Services (ISS) slammed Van Beurden and said he was paid 80 per cent of his maximum bonus despite achieving only near-target levels on its operational excellence and sustainable development goals, which make up 70 per cent of the overall bonus scorecard.
“Neither the annual report nor the sustainability report detail any of the factors which led to the accident, and the remuneration report is silent on it altogether,” a report from ISS said.
Leave a Comment