UPDATED WITH MORE LINKS: “Simon Henry has loads of money now. Plenty to pay lawyers to sue me for defamation if anything I have stated is untrue. He also has me to thank for the above Daily Mail article.”
By John Donovan
Despite his well-documented role in the Shell oil and gas reserves scandal over a decade ago, Simon Henry clung on and ended up hitting the jackpot when appointed Chief Financial Officer of Royal Dutch Shell Plc. He is departing that job today but will become an employee of Shell International Limited on 1 April 2017, April Fools Day, for a two-month “transition” period. Perhaps he needs the time to count his cash while having a good laugh at Shell investors.
Many millions of dollars including payment for loss of office, various bonus payments and yet more millions from the sale of some of his shares – two helpings, each for over £1m.
Where else would you be so handsomely rewarded for past conduct directly at odds with Shell’s claimed core business principles?
Simon Henry has loads of money now. Plenty to pay lawyers to sue me for defamation if anything I have stated is untrue. He also has me to thank for the above Daily Mail article.
RELATED ARTICLE PUBLISHED BY THE TIMES:
Emily Gosden, Energy Editor: March 11, 2017
Royal Dutch Shell has awarded its former chief financial officer a €2.3 million payment as compensation for “loss of office”.
Simon Henry stood down from the role on Wednesday after seven years and has been replaced by Jessica Uhl, who was formerly a finance executive in Shell’s gas business.
The Anglo-Dutch oil company’s pay policy allows its remuneration committee to “offer a termination payment of up to one times annual pay (base salary plus target bonus)”.
No such payment was made to Peter Voser, Shell’s former chief executive, when he chose to retire early in 2013 after just four years in the role.
Some had doubted whether Mr Henry would remain in his post after losing out to Ben van Beurden as Mr Voser’s successor,…
Written by Mark Lammey – 10/03/2017
Shell’s former chief executive officer will pocket more than £3million from his golden goodbye.
Simon Henry will get a gross payment of £1.99million, equivalent to a year’s pay, the company said today.
The payments will be phased in six equal monthly instalments.
Mr Henry, who was a driving force behind Shell’s takeover of BG Group, handed over the CFO duties to Jessica Uhl yesterday and will leave Shell on June 30.
Mr Henry, who took up the role in 2009, received a total pay packet worth £3.17million in 2015.
The Cambridge University mathematics graduate joined Shell as an engineer at its Stanlow refinery in 1982.
He sold £1million worth of shares in Shell at the start of December.
Mr Henry will become a non-executive director at Rio Tinto on July 1.
Earlier this week, Shell revealed that chief executive Ben van Beurden enjoyed at £3million boost to his overall pay package in 2016, lifting it above £7million.
The news prompted criticism from trade union officials, who pointed out that the big payouts have coincided with a severe downturn in the oil and gas industry.
Shell has already shed more than 1,000 jobs in its North Sea operations alone.