Posts on ‘May 20th, 2009’

Posted by Wednesday 20 May 2009 00.10 BST The Guardian Shell held a stormy annual meeting yesterday, but its problems are not confined to London. Next week, the company is on trial in New York, accused of complicity in human rights abuses – including the death of Ken Saro-Wiwa, a Nigerian environmental activist and author – and [...]

Daily Telegraph Sir Peter Job and the remuneration committee at Royal Dutch Shell are facing calls to step down.  By Graham Ruddick Last Updated: 10:14PM BST 20 May 2009 The calls were made after the oil major became the UK’s most high-profile victim of a shareholder revolt. In the latest sign of increasing activism among [...]

Shell awarded 78,889 shares to Van der Veer worth about 1.34 million euros ($1.8 million) while Chief Executive Officer- designate Peter Voser got 39,656 shares under the same program. Shell paid out shares worth 4.2 million euros to its five directors, David Williams, a spokesman based in The Hague, said in a phone interview today.

And what’s slightly odd is that the non-executives on Shell’s remuneration committee, the grandees who made the discretionary award to Shell’s top execs, seem to have been unaware of the public mood.

The unholy alliance between remuneration consultants, non-executive directors and company boards was dealt a bad blow this week, when the shareholders of Royal Dutch Shell (RDSa.L) voted against the company’s executive pay rewards.

Dublin Shell to Sea said today it was “utterly hypocritical” to prosecute local campaigners while allowing Shell to continue doing work for which it has no planning permission.

Drill into it and the parallels are uncanny. On his watch, Michael Martin allowed the rules to be bent so far that a slick of oleaginous MPs took a liberty with their expenses. Roll on to Shell and up pops Sir Peter Job in the Speaker’s role, trying to defend the indefensible over boardroom pay.

Posting by “Guest” Once a greedy pig, always a greedy pig. The top of Shell (and this top is now broad and deep) knows no shame anymore. And you know: gorillas breed gorillas, so what will greedy pigs breed? Where are the days of van Wachem? Loyalty, professionalism, hard work and fair pay. And the [...]

The behaviour of Shell’s remuneration committee was outrageous

THE WALL STREET JOURNAL Shell Investors Revolt Over Executive Pay Plan MAY 20, 2009 By GUY CHAZAN and JOANN S. LUBLIN Royal Dutch Shell PLC, Europe’s largest oil company, suffered a stunning rebuke Tuesday when investors shot down its executive-compensation plan, in the latest display of shareholder anger over big paychecks and boardroom excesses amid the economic crisis. Getty [...]

A global investor backlash over executive pay escalated yesterday when shareholders turned on Royal Dutch Shell and voted against its executive pay plan.

John Kerr wasn’t offered a final cigarette, but there was a moment yesterday when the former diplomat, chainsmoker and Royal Dutch Shell director looked to be facing the firing squad.

As Martin Simons, a British retail investor who spoke to the meeting in The Hague via video link from London, put it: “What really troubles me about the board is you have not had the nous to realise the general public concern about the behaviour of large companies. The gravy train has got to stop.”

Daily Mail By SAM FLEMING Last updated at 12:15 AM on 20th May 2009 Royal Dutch Shell’s directors were yesterday shaken by an unprecedented and humiliating defeat at the hands of their shareholders. In the biggest City rebellion on record, 61 per cent of the oil titan’s investors either voted outright to reject Shell’s 2008 pay [...]

Investors in Royal Dutch Shell rejected the company’s executive pay plan yesterday and, in a resounding defeat for the oil group’s board, called for the pay-setting committee to resign.