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Reuters: Shell CEO to stay on an extra year

Wed Mar 28, 2007 6:44 AM BST

LONDON, March 28 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile , Research) said on Wednesday its chief executive, Jeroen van der Veer, would continue in his role until June 2009, extending his tenure for a year longer than expected.

Previously, the chief at the Anglo-Dutch oil major was intended to retire in the June after reaching 60 years of age. Van der Veer will be 60 in October this year.

Shell’s decision is in contrast with rival BP Plc (BP.L: Quote, Profile , Research), where CEO John Browne will depart a year and a half earlier than expected after a dispute with BP’s chairman, Peter Sutherland, over Browne’s desire for an extension of his tenure.

© Reuters 2007. All Rights Reserved. 

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