Financial Times: Shell fighter begins the big clean-up
“it could itself become a bid target”; “if you get it hopelessly wrong, then people start sniffing around.”: “In answer to a question about whether they are sniffing now, he said: “You will have to ask the sniffers.”
By Deborah Hargreaves
Jul 30, 2004
Jeroen van der Veer, chairman of the committee of managing directors at Royal Dutch/Shell, has just completed the most bruising episode of his 33-year career at the Anglo-Dutch oil company.
He was appointed to the top post in March to clear up the mess left after the company downgraded its proved reserves by 20 per cent – a debacle that led to the departure of three executives, including Sir Philip Watts, his predecessor.
Mr van der Veer is now fighting on all fronts to put the reserves issue behind him and draft a future for Shell in which it clarifies its complex governance structures, opens itself up to the outside world and focuses on building the business. But he still has a long way to go to convince shareholders that the company has taken the issues seriously enough. read more
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