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Posts under ‘Sir Philip Watts’

Tesco overstatement debacle reminiscent of Royal Dutch Shell reserves scandal

By John Donovan Tesco admits a £250m mistake in half-year profit calculations Tesco share value has plummeted after the supermarket giant announced this morning that it had overstated its half-year profit guidance by £250m. Four senior Tesco executives, including a managing director, have been suspended. In view of what happened to Shell when it overstated its hydrocarbon […]

John Alfred Donovan, Founder, Owner and Group Chairman, Royal Dutch Shell Plc

By John Donovan Interesting to note that my association with Royal Dutch Shell is so strong after a three decade relationship, that according to current information listed on zoom info (screenshot below), I am given credit as being the founder, owner and Group Chairman of Royal Dutch Shell Plc. Guess it was only a matter of […]

Little known key role of Michiel Brandjes in Shell reserves scandal

However, unbeknown to Van de Vijver, Michiel Brandjes (right), who was alarmed by the findings of the report, sent a copy to a New York law firm Cravath, Swaine & Moore. This meant that events were no longer in the control of Shell. Instead, Shell’s most sensitive issue since its close association with Adolf Hitler […]

Ben van Beurden: Surely Shell could have chosen a leader untainted by scandal?

Ben van Beurden was private assistant and adviser to Sir Philip Watts during the two years prior to the shock announcement of the reserves scandal in January 2004, which resulted in a firestorm of devastating news coverage that still reverberates today, 10 years later. This was during the period when false information was routinely given to […]

Ben van Beurden will need more than PR skills to navigate Shell’s choppy seas

Ben van Beurden gave a flawless performance last week as he stepped onto the public stage for the first time as chief executive of Shell and sought to explain how the company had cut its annual profits in half despite a year of sky-high oil prices. He should have been torn limb from limb, but […]

Royal Dutch Shell leadership: Bring back Sir Henri Deterding

If only it was possible to resurrect Sir Henri Deterding at his best, the extraordinary Dutchman who built the Royal Dutch Shell Group. In his first couple of decades at Shell he was a brilliant decisive leader brimming with ambition, ideas and incredible determination. He would have acted to exploit BP’s self-inflicted misfortunes, whereas Van […]

Energy giants battle to pump profits

At 55, Van Beurden, who replaced Peter Voser earlier this month, is a 30-year veteran at Shell where his career has mainly been focused on managing downstream businesses such as refining and chemicals. This week, as he announces full-year earnings, City analysts expect him to unveil details of a potential $15bn to $30bn (£9.1bn to […]

CFO Simon Henry: Just how many lives has this Shell fat cat got?

Simon Henry was CFO when the ship was set on its disastrous course of over-promise and under-delivery, beset by project delays and cost overruns, resulting in the recent profits warning and the dramatic advice just issued by Zacks Investment Research that Royal Dutch Shell Plc is “a risky bet that ordinary investors should exit.” He […]

10th ANNIVERSARY OF ROYAL DUTCH SHELL RESERVES SCANDAL

Since Royal Dutch Shell has apparently forgotten to mark the tenth anniversary of news breaking on 10 January 2004, that Shell had cooked its books by wildly inflating its claimed oil and gas reserves, it seems appropriate for me to do so on Shell’s behalf. The then Shell Group chairman, Sir Philip Watts was forced […]

Shell CEO Peter Voser: Did he jump or was he pushed?

Why would the issue of payment for loss of office even arise? Perhaps I am wrong but I am left with the impression that his early departure was by mutual consent and on the basis of no compensation for loss of office? In other words the board wanted him to leave early and he agreed? […]

Shell ‘is getting far too Dutch’

A senior executive at a leading City institution, who asked not to be named, said British investors were not being treated on a par with their Dutch counterparts. He said this was symptomatic of a trend that has seen the company increasingly consolidating power in The Hague and forgetting its British heritage. The oil giant […]