The head of Shell received nearly £8m last year as the petrol giant cut executive pay following a drop in energy prices.
The head of Shell received nearly £8m last year as the petrol giant cut executive pay following a drop in energy prices . The firm handed chief executive Wael Sawan , who took over the role from longstanding predecessor Ben van Beurden in January of 2023, a total pay packet worth £7.94m. This comprised a base salary of £1.40m, an annual bonus of £2.71m and a £2.60m long-term incentive payment, among other payments. This figure ranks more than van Beurden’s 2021 pay packet, but less than the £9.
7m the former chief received after a bumper 2022 sent profit through the roof. It also ranks slightly behind the sum taken for the period by Murray Auchincloss, head of fellow UK fossil fuel major BP. Both firms hope to keep investors happy with bumper buyback programmes planned for the next few months. The news comes as Shell announced its new energy transition plan for 2024. According to the published release, the company will look to alter the “carbon intensity” of the products it sells by 15-20 percent by 2030 compared to 2016 levels. The previously announced target was a firm 20 percent
Shell CEO Pay Energy Prices Executive Pay Wael Sawan Ben Van Beurden Murray Auchincloss BP Investors Buyback Programmes Energy Transition Plan Carbon Intensity
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