Royal Dutch Shell Reports 10% Votes Cast Against Director Pay

By Oliver Griffin

Royal Dutch Shell PLC (RDSB.LN) said Tuesday that 10% of votes at its annual general meeting were cast against directors pay, following earlier news that total pay for its CEO more than doubled in 2018.

In March the Anglo-Dutch oil major said total remuneration for Chief Executive Ben van Beurden in 2018 rose to 20.1 million euros ($22.4 million), from EUR8.9 million in 2017, after reaching the first year for full eligibility under Shell's long-term incentive plan.

Shell reported that 488.1 million votes were cast against approval of the directors' remuneration report, while 4.4 billion--or 90%--of votes approved the resolution. In total, around 60% of votes attended the meeting.

In March, Shell said that under Mr. van Beurden the company had enjoyed three strong years. The company cited the completion of its $50 billion acquisition of BG Group, its completed divestment program and the launch of a $25 billion share buyback.

Write to Oliver Griffin at [e-mail]; @OliGGriffin

(END) Dow Jones Newswires

May 21, 2019 10:41 ET (14:41 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.