MARCH 13, 2009
THE WALL STREET JOURNAL ASIA
LONDON – Royal Dutch Shell PLC said Thursday that Simon Henry, who helped guide the company through its oil-reserves reporting crisis five years ago, will be its new chief financial officer, effective May 1.
Mr. Henry, who most recently served as executive vice president of finance at Shell’s oil-exploration division, was the company’s head of investor relations in 2004, when Shell shocked investors with the news that it had overbooked its oil and natural-gas reserves by 20%.
NCB analyst Peter Hutton said Mr. Henry’s appointment was a positive move. “Simon developed a very strong rapport with analysts when he was head of investor relations for being straight-talking and no nonsense, a feature which significantly helped restore Shell’s reputation after the reserves issue,” Mr. Hutton said.
Mr. Henry, 47 years old, succeeds Peter Voser, who becomes Shell’s chief executive July 1. Shell’s board has proposed that current CEO Jeroen van der Veer become a nonexecutive director after he retires in June.