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Shell Shareholders Back Proposal for Higher Executive Pay

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Shell (SHEL.L, SHELL.AS) shareholders approved a resolution for its new directors' remuneration policy at the company's annual general meeting held on Tuesday, according to a same-day release.

Under the new policy, the energy giant will increase the maximum long-term share award for Chief Executive Officer Wael Sawan to 900% of salary from 600%, and also raise the bonus ceiling for Chief Financial Officer Sinead Gorman, according to a same-day Bloomberg News report.

Separately, a special resolution proposed by climate activist investor group Follow This, which called on Shell to produce a report based on two specific International Energy Agency scenarios, received only 13.01% of shareholder support.

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