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Former Shell boss Ben van Beurden’s pay package jumps to £9.7m

Former Shell boss Ben van Beurden received a £9.7million salary package last year, a more than 50% increase from 2021.

His pay was disclosed in the oil and gas giant’s annual report and accounts.

Shell last year reported the highest annual profits in its 115-year history after energy prices soared in the wake of Russia’s invasion of Ukraine.

Massive profits from energy companies have increased pressure to tax them more heavily as households grapple with soaring energy bills.

Shell posted a record profit of $39.9bn (£32.2bn) in 2022, double the previous year.

When the results were released in February, opposition parties said the company’s profits were “outrageous” and that the government was letting energy companies “off the hook” on taxation.

In 2021, Mr van Beurden was paid the equivalent of £6.3million – he was paid in euros because Shell had not yet moved its headquarters from the Netherlands to the UK.

He was replaced on January 1 this year by Wael Sawan, the former head of Shell’s gas and renewable energy business.

According to the annual report, Mr Sawan was appointed with a salary of £1.4million, although performance-related payments can often add significantly to the overall salary package. Mr van Beurden’s salary was £1.4m in 2022.

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