Shell chief faces revolt

THE chief executive of Shell faces an investor revolt over his £13.5m pay packet, as oil and gas firms battle growing calls for a windfall tax on profits.

Investment adviser Pirc has urged shareholders to oppose Ben van Beurden’s pay packet at next week’s annual general meeting, calling it ‘excessive’. He got £6.3m last year, up from £5.2m a year earlier.

Shell has given him a 3.5pc salary rise to £1.42m and he can land a further £12.1m in cash and shares by hitting targets.

He has seen the value of his stock balloon from £14m a year ago to £23m as investors have piled into oil and gas stocks.