By Paddy Briggs
Time to reflect on the integrity of Jorma Ollila (above), Chairman of the Board of Directors of Royal Dutch Shell Plc. In his time as Chairman it seems, if we judge from the actions of Shell’s new CEO Peter Voser, he has allowed Shell to become an over-staffed, unfocused, top heavy bureaucracy. A company that requires urgent and invasive surgery. A Company that no longer has confidence in its staff at the top to the extent that it makes them re-apply for jobs and so on.
But also in Ollila’s time he has acquiesced to an unparalleled escalation in senior executive remuneration. His previous CEO and the other Board members have been paid an order of magnitude more than their predecessors. Isn’t this a reward for failure? And isn’t Ollila culpable for allowing it to happen under his watch?
Either Shell does need the drastic surgery that Voser is now instituting or it doesn’t. If it does Ollila should resign for getting Shell into its current crisis. If it doesn’t he should resign for having appointed a man as CEO who is hell-bent on destroying a once great company.