The boss of Shell saw his pay package jump to £13.8 million for the past year despite delivering lower profits at the oil giant.
The FTSE 100 firm’s annual report showed chief executive Wael Sawan saw his total pay deal rise for 2025 by almost 60% compared with the previous year.
He received £1.9 million in his fixed salary, pension and benefits for the year, but saw this heavily eclipsed by around £11.8 million of bonuses.
This included a £2.7 million bonus for the year and a £9.1 million share award linked to longer-term targets.
The group’s finance boss, Sinead Gorman, saw her total pay deal jump to £8.5 million for 2025 from £7.25 million a year earlier.
The higher total pay deals came despite Shell reporting a worse-than-expected 22% plunge in annual profits last year.
Last month, the oil firm said underlying earnings – which strips out some commodity-price adjustments and one-off charges – dropped to 18.53 billion US dollars (£13.6 billion) for 2025 after a 40% plunge quarter-on-quarter in the final three months of the year.
The company has also outlined proposals to revamp its executive pay policy, which shareholders will vote on at its annual general meeting in May.
A Shell spokesman said: “Every three years, Shell seeks shareholder approval for a new executive director remuneration policy as a standard part of regulations for UK listed companies.
“The last vote was in 2023, so this is part of the usual cycle.
“The proposals have been published in the 2025 annual report today and will be voted on at the AGM (annual general meeting).”
