Royal Dutch Shell shareholders are not too pleased about CEO Ben van Beurden’s 8.9 million euro (about $10.56 million) annual pay package, with advisory firm Institutional Shareholder Services (ISS) urging investors to reject the company’s executive compensation plan, while the Financial Times has reported that a top 20 shareholder will vote against the latest executive pay package, due to “questionable” performance on investor returns.
The vote on pay will be next week, and if shareholders reject the executive’s pay package, it won’t be the first time this year that a major pay package has been rejected.
In March, Walt Disney shareholders rejected an executive compensation package for CEO Bob Iger that could have been worth $48.5 million a year over four years, plus a grant worth about $100 million, contingent on the successful completion of the purchase of certain 21st Century Fox assets.
As reported by Reuters, 52% of shareholders voted against the compensation for Iger and other executives, 44% voted in favor and 4% abstained.
Other top executives, including Tesla’s Elon Musk and AIG’s Brian Duperreault recently had their pay packages approved by shareholders.
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