Financial Times: Royal Dutch’s options prompt argument
By Ian Bickerton in Amsterdam and Carola Hoyos in London
Published: May 15 2004
Royal Dutch/Shell is caught in an argument over a potential multi-million pound share bonus package granted to its chairman.
Shell is at odds with the Netherlands Authority for Financial markets (AFM), the regulator investigating the company’s reserves crisis, over not registering performance-related packages granted to Jeroen van der Veer, chairman of its management committee.
Werner van Bastelaar of AFM said: “We are of the opinion that [performance-related] bonus packages should be registered with us. We are examining the facts carefully.”
But Royal Dutch/Shell disputed this. Sjoerd Eisma of its long-time legal adviser, said: “It is my view that there is no legal obligation for Shell or the beneficiary to make any announcement to the Dutch regulator at this time.
“It is Dutch law that if the award is made under suspensive conditions [where the effect of the award is suspended until the condition is satisfied], the obligation to inform the regulator arises on the satisfaction of the condition.” He said the rule was in AFM’s official brochure, and he had inquired with the regulator whether it was still being applied.
If Shell did break AFM rules, it may find itself in trouble with the US Securities and Exchange Commission, which requires disclosure to Washington of what it discloses nationally.
Shell did disclose options of shares of Royal Dutch, the Dutch arm of the company, for Mr van der Veer and for Rob Routs, another senior executive, to AFM.
It also disclosed both the options and long-term incentive bonus of shares in the UK arm for Malcolm Brinded, head of exploration and production, to the London Stock Exchange.
But the company confirms it did not disclose the long-term performance incentive bonuses of Royal Dutch shares for Mr van der Veer and Mr Routs.
Any incentive bonuses would be paid out after three years and only if Shell’s shareholder return beats its closest peers, a condition that has not yet been met.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
