Shell CEO's Pay More Than Doubles on Long-Term Incentive-Plan Pay Out

By Oliver Griffin

Royal Dutch Shell PLC (RDSB.LN) said Thursday that the total remuneration for Chief Executive Ben van Beurden more than doubled in 2018.

The Anglo-Dutch oil-and-gas major said Mr. van Beurden's total remuneration for 2018 rose to 20.1 million euros ($22.8 million), from EUR8.9 million in 2017, after reaching the first year for full eligibility under Shell's long-term incentive plan.

Shell said the outcome of the long-term incentive plan, spanning the three years from 2016 to 2018, was 190% out of a possible 200%.

Awards made under the long- term incentive plan in 2018 were valued at EUR15.2 million, soaring from EUR4 million in the year before.

The company said that in 2018 it had beaten its peers on total shareholder returns, cash flow from operations and earnings per share growth. It also came second in terms of return on average capital employed.

Shell said that under Mr. van Beurden the company had enjoyed three strong years, during which time it completed the $50 billion acquisition of BG Group, delivered a divestment program and launched a $25 billion share buyback.

The company also said Mr. van Beurden has positioned Shell as an industry leader regarding the oil-and-gas industry's transition to new energy sources.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin