The pay of Royal Dutch Shell’s former chief executive, Peter Voser, halved to $11.24 million (R122m) last year following what the company described as a disappointing performance. Shell suspended its controversial Arctic drilling programme earlier this year and pledged to cut spending and streamline operations following disappointing earnings in the fourth quarter of last year that were the least profitable for five years.

The company said it had also trimmed the base salary of new chief executive, Ben van Beurden, to reflect shareholder sentiment. – Reuters