Ex-Shell CEO's Pay Jumped 53% to $11.5M in 2022

Shadia Nasralla
Thursday, March 9, 2023

Shell's former chief executive, Ben van Beurden, received a pay package of 9.7 million pounds ($11.5 million) last year, up 53% from 2021, the group said in its annual report on Thursday.

The oil major delivered a record $40 billion profit in 2022, capping a tumultuous year in which a surge in energy prices after Russia's invasion of Ukraine allowed it to hand shareholders unprecedented returns.

Van Beurden was paid 7.4 million euros ($7.8 million) in 2021 - a different currency because Shell had yet to move its headquarters from the Netherlands to Britain.

He was replaced at the helm by Wael Sawan, former head of Shell's gas and renewables business, at the beginning of this year.

The annual report said Sawan was appointed on a salary of 1.4 million pounds, a pay component typically outstripped by additional performance-related payments.

($1 = 0.8435 pounds)

($1 = 0.9475 euros)

(Reuters - Reporting by Shadia Nasralla / Editing by David Goodman)

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