Investor backlash expected at Shell over top pay scales

<!--StartFragment-->OIL giant Shell is braced for angry shareholder reaction when investors meet at its AGM today.<br /><br />The Anglo-Dutch company has come under pressure from its investors to review the pay structure of its executives.<br /><br />Fresh opposition came from institutional investor Co-operative Asset Management (The Co-op) yesterday, which disapproved of the oil giant&rsquo;s decision to give share awards to directors, even if they missed performance targets.<br /><br />The Co-op said it had opposed Shell&rsquo;s remuneration decisions for the past three years, and added it was also voting against director Lord Kerr of Kinlochard&rsquo;s re-election, because of his advocacy of what it called &ldquo;inappropriate executive rewards.&rdquo;<br /><br />Standard Life Investment, another shareholder, also spoke out on this matter last month.<br /><br />Last year, chief executive Jeroen van der Veer received a bonus worth about &pound;1.25m.<br /><br />The payment was based on where the company finished in a league table of oil companies.<br /><br />The furore comes as a number of blue-chip companies face criticism for their executive payments.<br /><br />Earlier this month, Network Rail chief Iain Coucher gave up his annual bonus, saying he didn&rsquo;t want his pay to overshadow his company&rsquo;s performance.<br /><br />Meanwhile, sub-prime lender Provident Financial, oil group BP, the miner Xstrata, and property website Rightmove have all faced shareholder anger over executive pay.&nbsp;&nbsp;