Shell CEO Wael Sawan's total pay was $10 million in 2023
Last week, rival BP said it clawed back 1.8 million pounds from former CEO Bernard Looney's 2023 pay package following his dismissal on Dec. 13 for failing to disclose past relationships with employees. Shell's shares have risen nearly 9%, as of last close, since Sawan took over as CEO.
- Country:
- United Kingdom
British oil major Shell's CEO Wael Sawan's total pay package in 2023 was 7.9 million pounds ($10.11 million), including an annual bonus of 2.7 million pounds, its annual report showed on Thursday.
Sawan was appointed to the top job at Shell at the start of 2023, replacing Ben van Beurden, who received a total remuneration of 9.7 million pounds in 2022. Shell's profit dropped 30% to $28 billion, it reported last month, marked by lower chemicals and refining profit margins and slower fuel sales due to sluggish global economic activity.
Sawan was appointed on a salary of 1.4 million pounds, a pay component typically outstripped by additional performance-related payments. Last week, rival BP said it clawed back 1.8 million pounds from former CEO Bernard Looney's 2023 pay package following his dismissal on Dec. 13 for failing to disclose past relationships with employees.
Shell's shares have risen nearly 9%, as of last close, since Sawan took over as CEO.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Wael Sawan's
- Bernard Looney's
- Sawan
- British
- Ben van Beurden
- Shell
ALSO READ
'Mughal mindset': PM slams opposition leaders for non-vegetarian food video during Sawan
"What Congress could not do in 5 decades, PM Modi did in 10 years": Goa CM Pramod Sawant
"Visionary": Goa CM Pramod Sawant lauds PM Modi's leadership
"What Congress could not do in 50 years, PM Modi did in 10": Goa CM Pramod Sawant
MEA circular on revocation certificate for OCI card will provide relief to Goans: CM Sawant