Shell’s chief executive Wael Sawan earned just shy of N$190 million from his work with the London-listed supermajor in 2023.
Shell has made four oil discovery in the Orange Basin, offshore Namibia.
With a total remuneration package of N$188 million for his work in 2023 with the boss receiving a N$64 million bonus, half of which was delivered in cash and the rest in shares. Sawan’s bonus was reined in somewhat by fatalities in 2023.
Looking to the year ahead, Shell has shared that its boss’ salary of N$33 million will increase by 3.9%.
Looking to the bonus the Shell boss can expect for 2024, if he achieves the highest amount available he can take home 250% of his salary.
Last year marked Sawan’s first year in charge of the UK supermajor with him being appointed chief executive officer and a board director effective January 1, 2023.
Last week it was confirmed that BP’s chief executive, Murray Auchincloss took home just over N$190 million in pay in 2023, including N$154 million in bonuses.