THE chief executive of Royal Dutch Shell, Ben van Beurden, suffered an eight per cent cut in total pay excluding one-offs last year when the company’s profits fell 80 per cent amid the crude price slump. The oil and gas giant’s annual report shows Mr van Beurden’s total direct remuneration fell 8 percent last year to €5.1 million (£4m) from €5.6m in 2014. The Dutch executive’s total package, including pension and tax equalisation, fell to €5.6m, from €24.2m in the previous year, when his promotion to the top job triggered big pension and tax payments. Shell’s full year profits fell to $3.8bn (£2.6bn) in 2015 from $19bn on the standard current cost of supplies basis. The company has cut 500 North Sea jobs in response to the crude price slump since June 2014.
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