Shell chief executive Ben van Beurden’s total remuneration plummeted last year, sad face
Shell chief executive Ben van Beurden's pay packet was cut by almost 80 per cent last year, as the energy giant faced a challenging year ahead of its mega-merger with BG.
The boss pocketed a mere €5.1m for 2015, having received a total remuneration of €24.2m the year before, though this included pension accrual, taxes and other factors.
Although you might have limited sympathy, this is actually the lowest chief executive salary in recent history, Shell's annual report shows.
Predecessor Peter Voser's smallest annual package was €6.3m, when he took on the reins in the middle of 2009, but thereafter he pocketed much higher sums – €10.6m in 2010, €9.9m in 2011, €18.2m in 2012 and €8.5m in 2013.
The man at the helm before him, Jeroen van der Veer, who stood down on 1 July 2009, took home €3.75m for his time.
If van Beurden is hoping for normal services to resume next year, he may be disappointed.
Shell warned that if oil and gas prices remain at current levels, both its upstream and integrated gas segments could incur a loss.
"Additionally, low oil and gas prices have resulted, and could continue to result, in the debooking of proved oil or gas reserves, if they become uneconomic in this type of price environment," the giant warned. "Prolonged periods of low oil and gas prices, or rising costs, have resulted, and could continue to result, in projects being delayed or cancelled. In addition, assets have been impaired in the past, and there could be impairments in the future."