London Evening Standard: Speed up reform, Shell warned
15 June 2004
BIG investors have given Shell a blunt warning that it must speed up its reforms and give more information about an internal review into its board structure.
Shareholders have said the oil giant’s refusal to name those on its review working party is ‘ridiculous’. They are demanding that it divulge the names and terms of reference of the review.
Investors fear conservatives in the Dutch arm of Shell are resisting change. Others appear to have received the message that the game is up for its complex dual board structure, which many hold responsible for its governance failures.