The FT has reported:
Royal Dutch Shell is facing the risk of a shareholder rebellion over pay for the second successive year after two influential investor advisory groups raised concerns about discretionary pay awards made to board-level executives.
RiskMetrics, which provides advice on voting to investors including members of the National Association of Pension Funds, has recommended a vote against Shell’s remuneration report at its annual meeting on May 19.
The Association of British Insurers’ voting service has also issued an “amber top” alert on Shell’s pay report, warning its members of a potential breach of good governance.
The realisation that there is no connection between high pay, entrepreneurialism and investor benefit has begun to sink in.
I could ask why it has taken so long.
But I’ll just be grateful it’s happening, at last.
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