Judy Boynton

Some fear that Shell is not going to undergo the drastic shake-up that it is clear is required

Jun 26th, 2004
by John Donovan.
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The Times: ‘Some fear that Shell is not going to undergo the drastic shake-up that it is clear is required’

By Patience Wheatcroft

June 26, 2004

WHAT a generous gesture from Shell’s remuneration committee. There was Sir Philip Watts, contemplating a future on a meagre pension of just £568,000 but now he has at least got an extra £1 million in the bank to fund those occasional excursions he may be planning in his retirement. The news must have cheered him up on his 59th birthday. It might even have taken his mind off those investigations that the FSA and the SEC are still conducting into his activities at Shell. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Sacked Shell boss walks away with £1m

Jun 26th, 2004
by John Donovan.
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Daily Telegraph: Sacked Shell boss walks away with £1m: “despite his role in the oil giant’s reserves debacle”

By David Litterick (Filed: 26/06/2004)

Sir Philip Watts: huge payout despite failure on reserves

Sir Philip Watts was paid more than £1m compensation from Shell despite his role in the oil giant’s reserves debacle.

The former chairman has been paid a lump sum of £1,057,971, which the company said was based on the amount he could expect to receive if he had stayed in his job until his normal retirement date of June 2005.

Sir Philip received an annual salary of £800,000 when he was forced to resign in March after Shell’s announcement that it had overstated its proven oil reserves by 20pc – the equivalent of 3.9billion barrels. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Independent: Investor fury over £1m pay-off for Shell chief

Jun 26th, 2004
by John Donovan.
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The Independent: Investor fury over £1m pay-off for Shell chief

By Michael Harrison, Business Editor

26 June 2004

Shell outraged investors yesterday by giving its disgraced former chairman Sir Philip Watts a pay-off worth more than £1m.

Sir Philip, who was ousted from the oil giant in March following a scandal over the misreporting of reserves, has also been allowed to keep 2.9 million share options in Shell and start drawing a £584,000-a-year pension immediately.

The size of the pay-off is certain to provoke fury from shareholders at Monday’s twin annual meetings of the Anglo-Dutch company in London and The Hague. Investors are still recovering from January’s shock reserves downgrade which wiped £16bn from Shell’s market value. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Times: Shell hires veteran as new chief of finance

Jun 25th, 2004
by John Donovan.
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The Times: Shell hires veteran as new chief of finance

By Ingrid Mansell

June 25, 2004

SHELL plugged the final hole in its top management yesterday by appointing a 20-year company veteran to replace its ousted finance director.

Peter Voser, who worked for Shell from 1982 to 2002, will rejoin the oil major in October, following a two and a half year stint as chief financial officer of ABB. He is widely credited with turning round the Swiss engineering group.

Analysts said Mr Voser’s most pressing task at Shell would be a “City charm offensive” to restore investor confidence in the company’s management. The boardroom was cleared out after it emerged that the group had massively overstated its oil and gas reserves. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Market welcomes return of Shell boss

Jun 25th, 2004
by John Donovan.
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Daily Telegraph: Market welcomes return of Shell boss

By David Litterick (Filed: 25/06/2004)

Shell brought back a veteran executive of 20 years’ experience yesterday to replace ousted finance director Judy Boynton and help it recover from recent scandals.

The oil giant appointed Peter Voser to the finance role, more than two years after he left the company to help turn around ABB as the engineers’ finance director.

The 45-year-old Swiss will join on October 4 and help to rebuild confidence in the group, which is still reeling from the news that it over-booked its oil and gas reserves. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Independent: Shell appointment

Jun 25th, 2004
by John Donovan.
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The Independent: Shell appointment

25 June 04

The appointment of Peter Voser to succeed the ousted Judy Boynton as Shell’s new finance chief drew a predictable howl of derision from all the usual suspects yesterday. This is because Mr Voser was a Shell lifer before his brief two years with ABB in Switzerland, making Shell vulnerable to the claim that it sill hasn’t taken on board the need for root and branch change despite the disasters of the last six months.

Nothing could be further from the truth. Mr Voser only left Shell after being passed over for the top finance job in favour of Ms Boynton, who was an acolyte of Sir Philip Watts. Indeed, it is possible to imagine that had the cool headed and accessible Mr Voser got the job, the reserving débâcle may never have happened, or rather it would have been gripped at a much earlier stage. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Shell hires new finance director after reserves scandal

Jun 25th, 2004
by John Donovan.
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The Independent: Shell hires new finance director after reserves scandal

By Michael Harrison, Business Editor

25 June 2004

Shell moved yesterday to fill the gap at finance director level caused by the scandal over its mis-reporting of oil reserves by appointing a senior executive from the Swiss engineering giant ABB to the post.

Peter Voser, chief financial officer at ABB, will take up his job at Shell in October and will also join the oil company’s committee of managing directors – in effect its executive board. Mr Voser, 45, spent 20 years with Shell, leaving in 2002 after he was beaten to the job of finance director by Judy Boynton who was brought in from the US film and camera company Polaroid. Mr Voser is now replacing Ms Boynton who was forced to step down two months ago because of the lax internal controls within Shell, which resulted in it overstating its proven oil and gas reserves by 4.5 billion barrels or 25 per cent. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Guardian: Shell veteran returns to fold

Jun 25th, 2004
by John Donovan.
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The Guardian: Shell veteran returns to fold

Mark Milner

Friday June 25, 2004

Shell has brought back one of its old boys as it rebuilds a top management team devastated by scandal over oil reserves.

The Anglo-Dutch group has recruited Peter Voser, a Shell veteran of 20 years, who has spent the last two years helping engineering group ABB to rebuild its balance sheet.

He will take over as chief financial officer of Royal Dutch-Shell and will be a member of its committee of managing directors in early October. He will also become a director of Shell Transport and Trading, the British arm of the Anglo-Dutch group. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Guardian: Shell appoints new finance director

Jun 24th, 2004
by John Donovan.
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The Guardian: Shell appoints new finance director

Thursday June 24, 2004

Oil giant Shell today announced the appointment of a new finance director as it seeks to recover from the debacle over the booking of oil reserves.

Shell has recruited Peter Voser, the current finance head of Asea Brown Boveri (ABB), the Swiss engineering group. He will replace Judy Boynton, who quit Shell’s finance job in April after the company admitted in January that it had overstated its oil reserves.

Shell has been forced to restate its reserves four times this year to the consternation of its shareholders. Besides Ms Boynton, the chairman, Philip Watts, and oil and gas chief, Walter van de Vijver, have also been forced out. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Shell appoints new finance chief: ‘a Shell veteran’

Jun 24th, 2004
by John Donovan.
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BBC News: Shell appoints new finance chief: ‘a Shell veteran’

24 June 04

Troubled oil giant Shell has appointed a new finance chief as it seeks to reassure nervous investors.

Peter Voser, formerly chief financial officer at Swiss firm ABB, will join Shell with effect from 4 October.

Shell’s former CFO Judy Boynton quit in April this year following a row over the firm’s booking of oil reserves.

Shell has been forced to restate its reserves four times this year, sparking anger amongst shareholders and leading several top executives to quit.

Ms Boynton’s departure had been preceded by the removal of chairman Philip Watts and oil and gas chief Walter van de Vijver. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Shell investors threaten to revolt

Jun 14th, 2004
by John Donovan.
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Financial Times: Shell investors threaten to revolt

Posted 14 June 04

Royal Dutch/Shell faces the prospect of a investor revolt. With two weeks before the oil giant’s delayed twin annual meetings, institutional shareholders are growing increasingly frustrated by the secrecy surrounding the internal review of its governance structures and they plan to go public with their grievances, in person, at the meetings.

Since January 9 Shell has downgraded its proved oil reserves four times and, in the aftermath, shed Sir Philip Watts, group chairman, Walter van de Vijver, head of exploration and production, and Judy Boynton, finance director. It is also facing numerous class action lawsuits and regulatory investigations in the US, UK and the Netherlands. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Shell investors threaten to revolt

Jun 14th, 2004
by John Donovan.
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Financial Times: Shell investors threaten to revolt

Posted 14 June 04

Royal Dutch/Shell faces the prospect of a investor revolt. With two weeks before the oil giant’s delayed twin annual meetings, institutional shareholders are growing increasingly frustrated by the secrecy surrounding the internal review of its governance structures and they plan to go public with their grievances, in person, at the meetings.

Since January 9 Shell has downgraded its proved oil reserves four times and, in the aftermath, shed Sir Philip Watts, group chairman, Walter van de Vijver, head of exploration and production, and Judy Boynton, finance director. It is also facing numerous class action lawsuits and regulatory investigations in the US, UK and the Netherlands. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Mail on Sunday: Chairman Jeroen van der Veer in frame over Shell scandal – could lead to 20 years in jail

Jun 6th, 2004
by John Donovan.
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Mail on Sunday: Chairman Jeroen van der Veer in frame over Shell scandal – could lead to 20 years in jail

Patrick Tooher,

6 June 2004

SHELL chairman Jeroen van der Veer could face criminal prosecution in the US after signing accounts that massively overstated oil and gas reserves.

The revelation is another blow to Shell. Throughout the reserves fiasco, it has presented van der Veer as Mr Clean.

Van der Veer is bound to be questioned again about his role in the scandal when he meets leading shareholders this week.

Financial Mail has established that van de Veer, ex-chairman Sir Philip Watts and former finance director Judy Boynton put their names to statements required by the Sarbanes-Oxley Act. The Act came into force in 2002 after the WorldCom and Enron scandals. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

Shell’s Ex-Chairman Got Pay Raise in 2003

Jun 1st, 2004
by John Donovan.
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The Wall Street Journal: Shell’s Ex-Chairman Got Pay Raise in 2003

 

By CHIP CUMMINS

Staff Reporter of THE WALL STREET JOURNAL

June 1, 2004

 

LONDON — Philip Watts, ousted earlier this year as chairman of Royal Dutch/Shell Group for his role in the oil company’s energy-reserve accounting scandal, took home a 13% raise in base pay in 2003. Sir Philip earned £843,021 ($1.6 million or €1.3 million) in salary and fees, according to Shell’s annual report.

 

Sir Philip and other top executives received no annual bonus for 2003, a move Shell announced earlier this year in the midst of disclosures that it had greatly overstated its reserves of oil and natural gas. Without the bonus, Sir Philip’s pay for the year fell by 47%. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Observer: Shell’s ground zero

May 30th, 2004
by John Donovan.
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The Observer: Shell’s ground zero

Sunday May 30, 2004

The reserves scandal has left the Anglo-Dutch oil giant a long way behind its rivals. Dogged by difficulties in Nigeria and elsewhere, can it ever catch up, asks Oliver Morgan

On Friday morning there were loud thumps across the City as oil giant Shell’s hefty annual report finally landed on desks. The long-awaited document, delayed thanks to the internal turmoil caused by four downgrades that have stripped 4.7 billion barrels of oil from the company’s proved reserves, was an attempt to ‘fess up and move on.
 read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.

The Scotsman: Troubled Shell’s board bonuses axed

May 29th, 2004
by John Donovan.
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The Scotsman: Troubled Shell’s board bonuses axed

 

MARTIN FLANAGAN CITY EDITOR

Sat 29 May 2004

 

STORM-tossed Shell, the subject of regulatory investigations on both sides of the Atlantic for the overstated oil reserves scandal, dispensed with annual bonuses last year as a result, it emerged yesterday.

 

The British/Dutch oil giant’s twin annual reports released yesterday, after months of delay in the wake of the reserves overstatement, also showed that two of the three directors who were sacked had no contractual right to a severance payoff. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.
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