Investors rebel over pay at Shell meeting

Royal Dutch Shell has seen a quarter of investors vote against boss Ben van Beurden’s pay packet at the oil giant’s annual meeting.

A total of 25.2 per cent of shareholders rejected Shell’s remuneration report, which included an €8.9 million (£7.8m) package for the chief executive last year.

Van Beurden’s pay, up 3.7 per cent on the previous year, came as Shell profits bounced back after a period of volatility in the sector triggered by plunging oil prices.

Shell said following the meeting: “We also note that a number of shareholders voted against this year’s report.

“We respect the range of opinions that shareholders have and acknowledge the resources they can access to exercise their stewardship.

“We will engage constructively with our shareholders to reflect carefully on any feedback we receive from them and would particularly welcome the opportunity to work with proxy advisers more closely in the future, to better serve shareholder needs.”