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June 20th, 2004:

The Independent: Why so shy, Shell?

The Independent: Why so shy, Shell?

By Clayton Hirst

20 June 2004

What a coincidence. Two of Shell’s larger US shareholders, Calpers and Knight Vinke, wrote a pointed letter to the FT on Wednesday, criticising the troubled oil company for keeping them in the dark on the details of its wide-ranging review. Lo and behold, the next day Shell reveals details of its review and admits that it will do away with its so-called priority shares – which carry extra voting rights – controlled by the management of the group.

Shell should be applauded for scrapping this arcane tradition, but before we run away with the praise, two things must be borne in mind. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Observer: Top bosses see pension values soar

The Observer: Top bosses see pension values soar

Heather Connon, investment editor

Sunday June 20, 2004

Bosses of the top 10 British companies saw the value of their pensions rise by an average of 1.2 times their salaries in 2003, leaving them with pots worth an average £8.2 million.

According to a survey conducted for The Observer by Independent Remuneration Solutions, the biggest winners last year were Sir Philip Watts, ousted as chairman of managing directors of Shell earlier this year; Sir John Bond, executive chairman of HSBC, and James Crosby, HBOS chief executive, who saw the value of their pension pots rise by £2.06 million, £2.42 million and £1.89 million, respectively, last year alone – roughly equal to 2.5 times their annual salary. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Observer: Trial of two cities: London or the Hague?

The Observer: Trial of two cities: London or the Hague?

Investors who want to crack Shell’s structure must decide, writes Oliver Morgan

Sunday June 20, 2004

Disgruntled institutional investors intending to rattle the directors’ cage at Royal Dutch/Shell’s annual meeting this month face a basic question – where do we go?

This is not a reference to Shell’s decision to move the AGM from the planned Westminster venue (capacity 4,000) to the Docklands ExCel centre which can take 20,000 – a change that reflects expectations of a packed and rowdy meeting as often quiescent institutions join the ranks of irascible private investors to ask difficult questions in the wake of the reserves downgrading scandal. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Observer: Shell chiefs face vote of confidence: US shareholder activist wants to punish directors

The Observer: Shell chiefs face vote of confidence: US shareholder activist wants to punish directors

Oliver Morgan, industrial correspondent

Sunday June 20, 2004

Shareholders in Royal Dutch are being urged to vote against Chairman Jeroen Van der Veer and eight other directors at the oil giant’s annual general meeting a week tomorrow.

Influential US-based shareholder activist Institutional Investor Services is recommending voting against two key motions to ‘discharge directors of their responsibilities’ for the last year, at the Royal Dutch AGM in the Hague, which is being held concurrently with that of Shell, the London-based arm. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Sunday Telegraph: Shell bosses ‘must remain liable for recent blunders’

Sunday Telegraph: Shell bosses ‘must remain liable for recent blunders’

By Sylvia Pfeifer (Filed: 20/06/2004)

Leading shareholders in Royal Dutch, the Netherlands-based arm of Royal Dutch/Shell, are insisting that its directors remain legally liable for the series of blunders that have plunged the oil giant into crisis over the past year.

In an unusual move, shareholders say they will refuse to absolve directors of their responsibilities for the past year at the annual meeting on June 28. In accordance with Dutch law, shareholders will be asked to vote on a resolution to “discharge” the managing directors and members of the supervisory board of “responsibility” in respect of their management and supervision. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Sunday Telegraph: Shell coming to the end of going Dutch

Sunday Telegraph: Shell coming to the end of going Dutch

(Filed: 20/06/2004)

Shareholders are demanding wholesale reform, including the creation of a single company, writes Sylvia Pfeifer

Urban myth has it that Royal Dutch/Shell is so dedicated to ensuring it is prepared for all possible scenarios that its planning department once worked out what the oil giant would look like in the aftermath of a nuclear holocaust.

Myth or not, in many ways, the combination of four downgrades of its oil and gas reserves, management upheaval, regulatory investigations and shareholder pressure has struck the oil giant a series of devastating blows that even its planners would struggle to predict. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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