Shell chief’s pay doubles to 143 times average UK employee’s
Ben van Beurden’s total salary in 2017, which was approximately €9m, prompted a shareholder revolt.
The raise comes as the company increased its annual profits by almost $10bn and is largely down to long-term incentives kicking in.
Dutchman Mr van Beurden’s pay is now 143 times larger than the average Shell employee in the UK.
The firm’s Remuneration Committee said the ratio was “consistent” with those in the top 30 companies listed in London.
The 10 highest paid UK CEOs in 2017
Chief executive
Company
Pay
Pay ratio*
Jeff Fairburn
Persimmon
£47.1m
1,130:1
Simon Peckham
Melrose Industries
£42.8m
1,134:1
Rob Perrins
Berkeley Group
£28m
273:1
Jeremy Darroch
Sky
£16.3m
312:1
Martin Sorrell
WPP
£13.9m
295:1
Zoran Bogdanovic
Coca-Cola HBC AG
£13.8m
563:1
Rakesh Kapoor
Reckitt Benckiser
£12.5m
362:1
André Lacroix
Intertek
£11.7m
458:1
Nicandro Durante
British American Tobacco
£11.4m
424:1
Bob Dudley
BP
£10.5m
106:1
Note: Pay ratio is the ratio of CEO pay to each company’s mean staff package. Dimitris Lois was CEO of Coca-Cola HBC AG until his death in Oct 2017
Source: CIPD
BBC News