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Times Online: Comment: Shell shock

May 14, 2007
Miles Costello

Another slap in the face for Rijkman Groenink, currently hanging on by his fingernails at ABN Amro as major Dutch shareholders call for this head.

Being forced to dispense with a lucrative board seat at Shell, just 24 hours before some investors were due to vote against it, should please those who have been highly critical of his handling of the day job — the proposed takeover and break up of one the Netherlands’ two top banks.

The first slap came from the courts, which ordered the controversial sale of LaSalle to Bank of America be put to a shareholder vote. Losing on that issue next month could well be the third strike. And even by gentlemanly Dutch standards, means you’re out.

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article1787831.ece

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