Oil CEO Wages Immune to Price Slump as Shareholders Vote on Pay
Article by Rakteem Katakey published 15 April 2015 by Bloomberg.com
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London on Jan. 29. Photographer: Chris Ratcliffe/Bloomberg
Oil’s plunge has forced the world’s biggest energy producers to lay off workers and stall projects. Their chief executive officers have so far proved immune.
Royal Dutch Shell Plc, Europe’s biggest oil company, paid CEO Ben Van Beurden a total of $32.2 million last year, almost three times the amount his predecessor Peter Voser earned in 2013, according to data compiled by Bloomberg Intelligence. At BP Plc, where shareholders will vote on compensation at the annual general meeting on Thursday, CEO Bob Dudley’s total pay rose 4.9 percent to $15.4 million.
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