THE boss of Royal Dutch Shell has pocketed a near-£800,000 pay rise, lifting his annual package close to £8 million after resurgent oil prices boosted group profits.
Chief executive Ben Van Beurden saw his total pay packet climb 11 per cent to £7.811 million last year, with his annual bonus jumping by a quarter to £2.6m.
It followed a “strong” annual performance from the oil giant, which more than tripled bottom line profits to £8.5 billion in response to Brent crude’s temporary rise beyond $70 a barrel for the first time in three years.
Gerard Kleisterlee, chair of Shell’s remuneration committee, said Van Beurden had given “strong leadership” around the company’s new energy strategy.
The CEO’s annual salary was also marginally higher at £1.32m, up from £1.29m in 2016.
In Shell’s annual report, Van Beurden said: “We further reshaped and refined our portfolio through our divestment programme. These factors helped to reduce debt and strengthen our financial framework.”
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