Shell chief exec to become one of FTSE’s best paid bosses

Core Viewpoint - Shell's shift away from green energy towards more profitable oil and gas operations is reflected in the proposed significant pay increase for its CEO, Wael Sawan, potentially making him one of the highest-paid executives in the UK [1][3]. Executive Compensation - Wael Sawan's total pay could increase by £4.5 million to a maximum of £19 million annually, making him one of the highest-paid executives on the London Stock Exchange [1][2]. - His base salary is just over £1.5 million, with potential long-term performance pay increasing from a maximum of six times to nine times his base salary [2][3]. - Proposed stock awards for Sawan could rise to £13.8 million from £9 million, alongside a maximum annual bonus of £3.8 million [3]. Strategic Shift - Shell has decided to abandon its only two UK wind farm projects, focusing instead on gas-fired power plants and grid-scale batteries, while reducing the share of wind and solar in its power generation portfolio from 50% to 20% by 2030 [4][5]. - The company aims to maintain oil and gas output at current levels through the end of the decade, which has been positively received by investors [5]. Market Performance - Since Wael Sawan took over in January 2023, Shell's shares have increased by 22%, contrasting with minimal increases at BP (0.1%) and modest gains at ExxonMobil (33%) and Chevron (1.2%) during the same period [6]. - Despite the proposed pay increase, Sawan's compensation would still be lower than that of his US counterparts, such as Exxon’s Darren Woods, who earned $44.1 million last year [6]. Shareholder Approval Process - Shell seeks shareholder approval for its executive director remuneration policy every three years, with the last vote occurring in 2023; final proposals will be published in the 2025 annual report [7].