The Chairman of Royal Dutch Shell Remuneration Committee Sir Peter Job commented
Shell takes the outcome of this vote seriously and we will reflect carefully on it. We have already introduced additional performance measures for future awards, reflecting comments from shareholders. We understand that the vote reflects discontent with the Committee's exercise of discretion in releasing performance shares to Executive Directors. The Committee has exercised discretion both upwards and downwards in recent years. It has specific shareholder approval to use discretion in the operation of the company's long term share plan, where targets are narrowly missed. It explains in its annual report each year the process used for any exercise of discretion. In 2008 the Committee decided to release one quarter of the potential award to Executive Directors. In all fourteen percent of the potential award has been released to them over the last four years. Shell has regular engagements with major shareholders, and we will be discussing the implications of this vote with them during the course of the year.
©RTLZ.nl