The remuneration, made up of salary, bonuses and long-term incentive schemes, was more than double the figure for 2010 but the company said it was justified by Shell's strong operating and share-price performance. The oil firm reported global annual earnings of $28.6bn (£18bn) in 2011 – or more than £2m an hour – a 54% increase on the previous year.
The Anglo-Dutch group has cashed in on surging oil prices – which were more than $30 a barrel higher in 2011 than in 2010 – and booming demand for gas. It makes most of its money outside Britain and claims to generate barely 1p a litre profit from petrol sales.
Voser's £10.4m payout is composed of £4.52m in annual salary and bonus, with the balance from long-term incentive schemes. A spokeswoman said the payout "is a jump, but it's a reflection of a number of different factors and includes a payout from a share scheme that has been running for three years".
But she said the remuneration policy had not changed and she could not rule out another bumper payout next year.
Less than a year after the Palisades fire destroyed nearly 7,000 structures in Los Angeles, the...
Concerns over a small brush fire that reignited days later into the mammoth Palisades fire –...
A powerful atmospheric river weather system has mostly moved through California but not before causing at...
A powerful storm doused California with heavy rain on Friday, prompting evacuation warnings as the state...
