An article published today by The Wall Street Journal – “Shell, Bruised by Big Bets, Warns of Profit Miss” – makes the case from the standpoint of Ben van Beurden, why he should not be blamed for the profits warning announced yesterday by Royal Dutch Shell Plc that shocked the markets.
By John Donovan
Shell crushed by out of control elephants?
An article published today by The Wall Street Journal – Shell, Bruised by Big Bets, Warns of Profit Miss – makes the case from the standpoint of Ben van Beurden, why he should not be blamed for the profits warning announced yesterday by Royal Dutch Shell Plc that shocked the markets.
Apparently he warned that Shell should be cautious in relation to multibillion dollar elephant projects, which were pushed by Jeroen van der Veer, the first Chief Executive of Royal Dutch Shell Plc. BvB claims that he had no say over investments in EP projects and “questioned if it made sense for Shell to bet so heavily on ‘big-ticket’ projects”.