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Norway's sovereign wealth fund says backed Shell CEO's pay

Reuters
Ben van Beurden, chief executive officer of Royal Dutch Shell, listens to a question during a news conference in Rio de Janeiro, Brazil, February 15, 2016. REUTERS/Sergio Moraes (Reuters)

OSLO (Reuters) - Norway's $850 billion (578.79 billion pounds) sovereign wealth fund, the world's biggest, voted in favour of the 2015 remuneration package of Royal Dutch Shell Chief Executive Ben van Beurden at Tuesday's annual meeting of shareholders, the fund said on its web site on Wednesday. About 86 percent of the owners backed the 5.14 million euro ($5.73 million) pay package at the meeting. Two investor advisory firms had recommended that Shell's owners should oppose it. (Reporting by Terje Solsvik, editing by Stine Jacobsen)