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Shell chief hits out over pay
JEROEN van de Veer, the outgoing chief executive of Royal Dutch Shell, has called for a reform of the firm’s executive pay structure.
Van de Veer, who was himself the subject of a shareholder mutiny over a €1.35m (£1.16m) bonus he received despite failing to reach key performance targets, said lower pay would not have affected his performance as chief executive.
Outrage over the extent of payouts to Shell directors sparked a rebellion among investors, 59 per cent of whom voted down Shell’s annual remuneration report.