Sunday Telegraph: Shell agrees to cull surplus non-execs
“Executives of Royal Dutch/Shell, the Anglo-Dutch oil giant, have agreed to make a huge cull of its non-executive directors…”: “Meanwhile Judy Boynton, the discredited former finance director, is understood to be likely to agree her severance package in the next two weeks.”: “Her position was seen as untenable after the reserves debacle.”: “It is understood that her package will be close to her contractual terms, which guarantee a payoff worth at least $1m.”
By Sylvia Pfeifer (Filed: 26/09/2004)
Executives of Royal Dutch/Shell, the Anglo-Dutch oil giant, have agreed to make a huge cull of its non-executive directors – the clearest sign yet that the company will unify its two boards next year.
The boards of the two companies – Royal Dutch and Shell Transport & Trading – currently have 16 non-executives between them, far more than the average UK plc board.
The non-execs on the Royal Dutch board include some of Holland’s leading business and political figures, including Wim Kok, the country’s former prime minister. Shell Transport & Trading’s board has nine non-executives.