The Wall Street Journal: Shell Weighs End Of Dual Boards As Pressure Rises
By CHIP CUMMINS
Staff Reporter of THE WALL STREET JOURNAL
June 18, 2004; Page A3
Posted 19 June 04
LONDON — Royal Dutch/Shell Group said it is considering doing away with its nearly century-old, dual-board structure amid mounting pressure from big investors following the Anglo-Dutch oil company’s energy-reserve scandal.
Creating a single, unified board is among a number of options the company said it is considering to simplify its corporate structure. Royal Dutch Petroleum Co. of The Hague and London-based Shell Transport & Trading Co. jointly own Shell’s operating companies, holding 60% and 40%, respectively. The company is run by a committee of managing directors, a group of executives who act as Shell’s top management body. The committee answers to separate boards from each parent company.