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)

Categories: People & Company News Energy People Industry News Activity Europe

Related Stories

Inyanga and Verdant Form Partnership to Deliver Morlais Tidal Energy Project

ABL Group Wraps Up Ross Offshore Acquisition

MDL Names Head of Renewables

Current News

TotalEnergies, EnBW Win in $3.2 Billion Offshore Wind Site Auction

Floating Wind Startup Aikido Technologies Raises $4 Million

Installation of Hollandse Kust (west Beta) Export Cables in Full Swing

Norwegian Company Secures GW-Scale Offshore Wind Site in Estonia

Subscribe for OE Digital E‑News