Shell chief hits out over pay

JEROEN van de Veer, the outgoing chief executive of Royal Dutch Shell, has called for a reform of the firm&rsquo;s executive pay structure.<br /><br />Van de Veer, who was himself the subject of a shareholder mutiny over a &euro;1.35m (&pound;1.16m) bonus he received despite failing to reach key performance targets, said lower pay would not have affected his performance as chief executive.<br /><br />Outrage over the extent of payouts to Shell directors sparked a rebellion among investors, 59 per cent of whom voted down Shell&rsquo;s annual remuneration report.