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Shell boss Ben van Beurden slammed for reaping more than £18m

Shell boss Ben van Beurden slammed for reaping more than £18million ahead of a possible shareholder rebellion

Shell boss Ben van Beurden has been blasted for reaping more than £18million this week ahead of a possible shareholder rebellion.

Calculations by The Mail on Sunday show that the Dutch businessman – who has run Shell since 2014 – has pushed up valuations of his shares and other payments.

The amounts far exceed his official salary package of £6.1million last year.

Rewards: Since the start of 2021, Ben van Beurden has seen the value of his shares rise by around £11.7million

Since the start of 2021, Van Beurden has seen the value of its shares rise by around £11.7m – and is expected to rake in more than £800,000 in dividends, including the first quarter 2022 payout.

He has been criticized for cashing in on the cost of living crisis and resisting calls for a one-off “windfall tax” to help households with bills.

Robert Palmer, chief executive of Tax Justice UK, said it was “hard to justify these staggering amounts” when it comes to a cost of living crisis. “It’s going to be hard for ordinary people, who are going through the biggest drop in their standard of living since the Queen’s coronation,” he added.

Howard Cox of the FairFuelUK campaign said: “What’s worse for millions is that it’s not because of the incredible managerial skills of fatcat bosses, but because of fortunate increases in global oil prices.”

Investment adviser PIRC has urged Shell shareholders to vote against Van Beurden’s £6.1million ‘excessive’ pay package for 2021 at Tuesday’s annual meeting in London.

A Shell spokesman said: “We are of course aware of the difficulties that high energy prices bring.

“It’s painful for many people and a company like ours feels an obligation to help – and we do so where we can, with hardship provisions, payment holidays and other measures to help our customers.

“But the big contribution our company can make is to provide more and cleaner energy solutions, bringing new sources of supply to the UK and therefore improving market conditions.”

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Shell boss Ben van Beurden slammed for reaping more than £18m

Source link Shell boss Ben van Beurden slammed for reaping more than £18m

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