Royal Dutch Shell plc - remuneration policy update

At Shell's 2009 annual general meeting a majority of votes were cast against the remuneration report. The results were: for (1,295,183,971), against (1,896,170,360) and withheld (129,487,396). A review of remuneration policy followed and this week the chairman of Shell's remuneration committee wrote to shareholders explaining the changes being proposed to remuneration policy: see the letter here (pdf). Remuneration is being frozen and bonuses will be calculated by reference to a broader range of metrics.