Former Shell CEO Ben van Beurden received total remuneration of GBP 9.698 million ($11.995 million) in 2022, according to the company’s latest annual report.
The figure included a salary of £1.42 billion, £490,000 in taxable benefits, a pension contribution of £284,000, an annual bonus of £2.59 billion and long-term incentive plan income of £4.914 billion, the report revealed.
In 2021, van Beurden’s total remuneration figure was 6.344 million GBP ($8.728 million). He was trained on a salary of £1.365m, taxable benefits of £15,000, a pension contribution of £346,000, an annual bonus of £2.201m and long-term incentive plan income of £2.418m of GBP, the report shows.
In September last year, Shell revealed that van Beurden would step down as the company’s CEO at the end of 2022 and continue to work as an advisor to the board until June 30, 2023. Wael Sawan replaced van Beurden, in from January 1. 2023.
In Shell’s latest annual report, Andrew Mackenzie, chairman of Shell, said: “In his years at the helm of Shell, Ben achieved many great things.”
“In 2016, he made Shell’s biggest acquisition in the purchase of BG, led us through the pandemic and the global financial turmoil that followed, and led the historic move of our headquarters to London . He made the quick decision to start the process to get Shell out of Russia,” he added.
“We are grateful to Ben for his leadership through some of the most difficult challenges any CEO could face,” continued Mackenzie.
Also in the report, Sawan noted that during van Beurden’s time as CEO, he “transformed Shell into a much stronger company and put us on the path to net zero emissions.”
“I’m grateful to Ben for his work and what he’s delivered to me,” he added.
In its latest annual statement, Shell reported income attributable to Shell shareholders of $42.3 billion for 2022. In 2021, that number stood at $20.1 billion, and in 2020, Shell reported a annual loss attributable to Shell shareholders of $21.6 billion.
The company’s net debt fell from $75.3 billion in 2020, to $52.5 billion in 2021 and $44.8 billion in 2022, the report shows.
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