An article published today by the Maidenhead Advertiser says the Rev Sir Philip Watts is taking up a new position as Priest in Charge of the Benefice of Waltham St Lawrence. He is still protesting his innocence in relation to the Shell reserves fraud and cover-up that resulted in him being forced to resign as Group Chairman of the Royal Dutch Shell Group. Sir Phil forgets to mention the $150 million worth of fines imposed on Shell by the US and UK financial regulators, the class action lawsuits that were settled and the overwhelming incriminating evidence against him, including internal emails. When will he being suing for defamation all of the newspapers that have published articles correctly accusing him of cheating Shell shareholders? He was a fraudster then and remains a fraudster now, this time deceiving his flock, not investors.
Daily Express: FAT CATS REWARD: SIR PHILIP Watts: His deputy, Dutchman Walter van der Vijver, repeatedly warned him of the overstatement and finally exploded in an angry e-mail last November that he was “sick and tired of lying about the extent of our reserves”.
The Independent: Shell’s road to redemption remains a long one: “An extradition battle involving Shell’s former chairman Sir Phil Watts would provide splendid entertainment but it would also guarantee plenty more bad headlines”
The Independent: Investors lambast Shell over ousted chairman’s £1m pay-off: “the £1.06m pay-off for Sir Philip Watts proved that, even under new leadership, the company was still living in “a parallel universe”
The Times: Lifers who climb right to the top: “A less edifying example of the breed is Sir Philip Watts, chairman of Shell, who was forced to resign after the group admitted to misrepresenting oil and gas reserves.”
Financial Times: Former Shell chief challenges regulator’s censure: “The FSA violated my statutory rights to review and rebut the allegations contained in their recently published Final Notice against Shell, because I was both identified and prejudiced by the publication,” Watts said in a statement.”
Forbes.com: Former Shell Chairman Appeals Censure: “The Financial Services Authority’s final notice, issued on Aug. 24, said Shell had made false or misleading announcements in relation to its hydrocarbon reserves and reserves replacement ratios between 1998 and 2003, and had made those announcements despite indications and warnings that they were false.”
London Evening Standard: Shamed Shell chief hits back: “The move is a bolt from the blue from Shell’s former chairman, ousted in disgrace in March over the scandal that has led to the worst year in the group’s history.”
Daily Telegraph: The week in which a watchdog came under a heavy Shelling: “Sir Philip Watts is hardly going to enjoy being linked with Robert Maxwell but he probably owes the fat fraudster rather more than he realises.”