This article is 20 years old. Images might not display.
Chief executive Jeroen van der Veer was paid almost AUD$4 million last year. His basic salary for 2005 has been increased 15% to EU$1.5 million.
The report, filed with the US Securities and Exchange Commission on Thursday, also revealed the company had advanced $15 million to former directors to help with their legal costs in defending the actions being brought by irate shareholder groups.
Thursday’s announcement put Shell’s proved reserves at 11.9 billion barrels of oil equivalent, the fifth downgrade in the last 13 months.
Shell said the directors did not receive a bonus in 2003.
