Shell AGM Passes 22 Resolutions with 99.74% Buyback Support, Rejects 86.99% Shareholder Resolution
At its May 19 AGM, Shell secured approval on 22 of 23 resolutions, including 99.74% support for on-market share buybacks and 98.86% backing for reappointing CEO Wael Sawan, with only resolution 23 rejected by 86.99% of votes. Voter turnout reached 66.60% of issued share capital.
1. AGM Voting Overview
Shell held its Annual General Meeting on May 19, with 66.60% of issued share capital participating in the vote. Resolutions 1 through 22 were carried, covering annual accounts, director appointments, auditor reappointment and share authorities, while resolution 23 failed.
2. Key Resolutions Approved
Shareholders granted 99.74% approval for on-market purchases of Shell shares and 97.39% authority to allot new shares. Directors including CEO Wael Sawan were reappointed with 98.86% support, and the auditor’s remuneration policy was endorsed by 99.84%.
3. Rejected Shareholder Resolution
Resolution 23, a proposal from shareholders, was rejected by 86.99% of votes, with only 13.01% in favor. This outcome underscores limited shareholder appetite for the specific changes proposed.
4. CEO Statement and Outlook
CEO Wael Sawan said the strong backing across governance and financial resolutions affirms confidence in Shell’s strategy to deliver energy today while building a lower-emission system. He emphasized continued discipline to drive value and climate progress.