The chief executive of Shell saw his pay jump more than 60% to almost £14m ($18.5 US dollars) in 2025 despite a slump in profits at the oil company and prospects of rising pump prices related to Middle East war.
The package for Wael Sawan, who took the top job in 2023 and has refocused the company on fossil fuels, rose from £8.6m in 2024 to £13.8m in 2025.
The increase, which was announced in Shell’s annual report, triggered an immediate condemnation from pay campaigners, who said people were unlikely to “look favourably” on Sawan’s remuneration package given fears around another rise in energy and fuel prices linked to the US-Israeli war on Iran.
Oil prices briefly topped $100 a barrel again on Thursday as widespread Iranian attacks on energy facilities in the Middle East overshadowed a vast release of government reserves, which was ordered by the International Energy Agency on Wednesday.
Most of Wael Sawan’s bumper pay package came from bonuses.
Sawan received £1.9m in his fixed salary, pensions and benefits but most of the bumper package came from £11.8m in bonuses. This included a £2.7m bonus for the year and a £9.1m share award linked to longer-term business targets.
It is the first year that reflects Sawan’s full pay as chief executive, owing to the three-year vesting period for share awards. The huge package for 2025 came even after Shell reported a 22% drop in annual profits.
Full story Shell CEO’s pay jumps 60% despite slump in profits at oil company | Shell | The Guardian
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