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Shelled out

Financial Times: Shelled out

“If only the executives of Royal Dutch/Shell, under fire over its reserves debacle, could achieve redemption so easily”

Jul 09, 2004

No matter how far they travel, is there no way for corporate governance experts to avoid thinking about Shell?

More than 600 of them have congregated in Rio de Janeiro for the 10th annual International Corporate Governance Network conference. They range from those burdened with the governance brief by their investment institution employers to stock market operators such as Leni Boeren, a director of Euronext.

As well as talking about corporate governance in Latin America and shareholder rights, delegates have been enjoying the sights and sounds of Rio.

Top of the list of places to visit has been the mountain-top statue of Christ the Redeemer that is the city’s signature image.

The statue was erected in 1931 and refurbished in 1990, when a group of benefactors clubbed together to give it a facelift. Among the consortium? Shell – and the oil company’s logo duly adorns the thank-you plaques dotted around the place.

If only the executives of Royal Dutch/Shell, under fire over its reserves debacle, could achieve redemption so easily.

© Copyright The Financial Times Ltd

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