Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell A    RDSA   GB00B03MLX29

Delayed Quote. Delayed  - 09/30 05:37:38 pm
22.17 EUR   -0.27%
09/30DJNigeria Claims Oil Majors Illegally Exported Crude--Update
09/30DJNigeria Claims Oil Majors Illegally Exported Crude
09/30DJNigeria Claims Oil Majors Illegally Exported Crude
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Shell Shareholders Latest To Warn On Executive Pay

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/22/2012 | 07:26pm CEST

(Updates with details, context, background throughout.)

 
   By Alexis Flynn 
   Of  
 

Royal Dutch Shell PLC (RDSA, RDSB.LN) shareholders showed their ire over high executive pay with 9% of investors rejecting the company's remuneration report at Shell's annual general meeting Tuesday.

While the overwhelming majority of Shell shareholders backed paying Chief Executive Peter Voser EUR11.7 million and former exploration director Malcolm Brinded EUR11.4 million for their 2011 performance, the number opposed rose substantially from last year, when only 2% of investors voted against the remuneration report.

The shot across the board's bows is the latest sign of discontent at how much top corporate managers are being paid. In what observers have dubbed the "shareholder spring," an increasing number of investors have used AGMs to protest what they perceive to be excessive levels of pay.

Just over 90% of Shell shareholders approved the company's pay package following an assembly in which several investors gave a withering assessment of current rates of executive remuneration. Last month, investors in rival BP PLC (BP.LN) sent a similar message at their annual general meeting, with 11% of holders voting down their executive pay package. And amid signs of an emerging trend at resource-producing firms, 67% of Cairn Energy PLC (>> Cairn Energy PLC) shareholders decisively rejected the Scottish oil explorer's pay report last Thursday.

Martin Simons, who said he has been a Shell shareholder for 50 years, bemoaned the Anglo-Dutch firm's top managers getting a 59% pay rise at a time when dividends have remained static. Voser's pay package more than doubled last year, taking into account bonuses and share incentives.

"Pay inflation in these times isn't appropriate. Companies should pay higher dividends instead," said Simons.

However, Shell said the high pay reflected a year of bumper profitability. Shell's 2011 net profit was $29.7 billion, a 47.7% rise from 2010.

A Shell spokesman said: "Shell's remuneration policy firmly links executive compensation with the performance of the company, and the 2011 outcomes reflect what was a positive year for the company."

Some shareholders excoriated the board for paying such a high package to Brinded, who last month stepped down as executive director for exploration and production. One investor described the award as "grossly overgenerous" and demanded to know whether Brinded was ousted by the board or if he left voluntarily, saying that if it were the former, then he shouldn't qualify for a performance bonus.

The accusation was strongly rejected by the head of the remuneration committee, Hans Wijers, who said Brinded's departure and pay package were part of a managed succession process. "We applied the rules according to that plan," said Wijers. "Malcolm's performance was measured as good. He worked until his very last day."

The meeting was also an opportunity for rights and environmental activists with nominal equity to quiz Voser and Chairman Jorma Ollila on issues such as Shell's track record in the Niger Delta and its controversial plans to drill for oil in the Arctic.

Ollila remained deadpan throughout, failing to crack a smile when one activist shareholder claimed to have intercepted a thank-you letter from "Cockroaches Against Humanity" that she said congratulated the company on its role on fast-tracking climate change and with it, the inevitable demise of humankind.

-By Alexis Flynn, Dow Jones Newswires, +44 207 842 9471; alexis.flynn@dowjones.com

Stocks mentioned in the article : Cairn Energy PLC, Cairn Energy PLC
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ROYAL DUTCH SHELL A
09/30DJNigeria Claims Oil Majors Illegally Exported Crude--Update
09/30DJNigeria Claims Oil Majors Illegally Exported Crude
09/30DJNigeria Claims Oil Majors Illegally Exported Crude
09/30 ROYAL DUTCH SHELL A : Crude Oil Slumps One Day After OPEC Deal to Cut Output
09/30 ROYAL DUTCH SHELL A : Shell Oil Assigned Patent
09/30 ROYAL DUTCH SHELL A : Sparks fly at CCAC's midnight welding course
09/30 ROYAL DUTCH SHELL A : Crude Oil Slumps One Day After OPEC Deal to Cut Output
09/29 ROYAL DUTCH SHELL A : Shell to build Permian gas gathering lines
09/29 ROYAL DUTCH SHELL A : BP and Shell investors urged to reward bosses for backing ..
09/29 ROYAL DUTCH SHELL A : Shell launches smarter energy collaboration to help furthe..
More news
Sector news : Oil & Gas Refining and Marketing - NEC
09/30DJNigeria Claims Oil Majors Illegally Exported Crude--Update
09/30DJNigeria Claims Oil Majors Illegally Exported Crude
09/30DJNigeria Claims Oil Majors Illegally Exported Crude
09/30DJDeepwater Horizon' Film Poses Fresh Woes for BP
09/28 FTSE recovers from one-week low as miners rally
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
09/30 Large Oil Company Dividends Might Not Be Sustainable Long Term
09/30 BLOOMBERG : Nigeria's Forcados crude looks set to restart, as Shell among buyers
09/30 Nigeria can sue Chevron, Total over illegal exports, judge rules
09/29 Kashagan oilfield just days away from production, ministry says
09/29 Gazprom plans to launch third LNG train at Sakhalin-2
Advertisement
Financials ($)
Sales 2016 234 348 M
EBIT 2016 13 266 M
Net income 2016 8 019 M
Debt 2016 66 506 M
Yield 2016 7,49%
P/E ratio 2016 18,63
P/E ratio 2017 10,74
EV / Sales 2016 1,17x
EV / Sales 2017 0,95x
Capitalization 207 520 M
More Financials
Chart ROYAL DUTCH SHELL A
Duration : Period :
Royal Dutch Shell A Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Full-screen chart
Technical analysis trends ROYAL DUTCH SHELL A
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 30,9 $
Spread / Average Target 24%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ben van Beurden Chief Executive Officer & Executive Director
Charles Holliday Chairman
Simon P. Henry Chief Financial Officer & Executive Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Deputy Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL A-0.45%207 520
EXXON MOBIL CORPORATIO..10.92%358 519
BP PLC27.40%111 046
CHINA PETROLEUM & CHEM..-3.83%88 190
SAUDI BASIC INDUSTRIES..--.--%64 931
RELIANCE INDUSTRIES LI..7.78%52 227
More Results