Shell Board proposes to raise CEO pay package

Shell's annual reports revealed that the board will ask shareholders to increase the maximum pay package for the CEO during its annual meeting on May 19, in order to align incentives with other companies operating in similar industries and geographies.

Shell spokesperson said that Wael Sawan, CEO of Shell, received a pay package worth 13.8 million pounds ($18.47million) in 2025, compared to 8.6 million pounds the previous year. This was the first time in three years he had been able to tap into the full CEO policy, after taking over the company in 2023.

Shell's total shareholder return has also outpaced its peers in recent years.

The board proposes that CEOs receive a pay increase by increasing the maximum performance share award by halving it to 450%.

The report stated that the proposed change would move the CEO's pay from the 25th percentile of pay to just below the median pay group.

Shell's profit of $18.5 billion was a fifth less than in 2024 due to lower oil prices, trading results and chemicals. However, it continued its share buyback program and dividends. Sawan's pay is based on shareholder distributions made over a?three-year remuneration period.

The report stated that the total pay would have been higher if there had not been four fatal accidents in Argentina Malaysia and Britain during the last year.

(source: Reuters)