£17.1m payout for Shell boss despite plunging shares

Shell boss Ben van Beurden got a €24.2 million (£17.1 million) pay package last year despite falling oil prices hitting the company’s shares.

The 56-year old, who succeeded Peter Voser last year, picked up a €1.4 million salary and bonuses worth €4.1 million.

His overall package was boosted by a €10.7 million pension top-up and €7 million payment described as “tax equalisation”.

Shell admitted his remuneration was “unusually high”.

A spokesman said: “His promotion to chief executive, combined with his prior expatriation from The Netherlands to the UK, have resulted in the single figure which we have published today, but it’s important to put this figure in appropriate context.”