The Scotsman: Troubled Shell’s board bonuses axed
MARTIN FLANAGAN CITY EDITOR
Sat 29 May 2004
STORM-tossed Shell, the subject of regulatory investigations on both sides of the Atlantic for the overstated oil reserves scandal, dispensed with annual bonuses last year as a result, it emerged yesterday.
The British/Dutch oil giant’s twin annual reports released yesterday, after months of delay in the wake of the reserves overstatement, also showed that two of the three directors who were sacked had no contractual right to a severance payoff.