Taipei Times: Former chairman of Royal/Dutch Shell gets giant payout: ‘after an accounting scandal’
SEVERANCE PACKAGE: Sir Philip Watts received £1.06 million after he stepped down from his post at the oil giant after an accounting scandal
Sunday, Jun 27, 2004,Page 11
The Royal Dutch/Shell Group’s former chairman, Sir Philip Watts, received a severance package worth £1.06 million (US$1.93 million), the amount he would have earned had he stayed on until retirement, the company said on Friday.
Watts was asked to step down in March, after an internal investigation found that the company had overstated its oil and gas reserves estimates for several years.