TimesOnLine: Investors set for Shell showdown
Louise Armitstead
June 20, 2004
Posted 21 June 04
INSTITUTIONAL shareholders in Shell, the embattled oil giant, are planning a public showdown with the company’s management at its annual meeting next Monday. Despite Shell’s efforts last week to meet some of its investors’ biggest demands, fund managers say they will attend the meeting to press for more transparency.
Shell’s biggest investors, which include Isis, M&G, Scottish Widows, State Street, Merrill Lynch and HSBC, have welcomed Shell’s announcement that it would move towards merging Royal Dutch and Shell Trading & Transport, but they still have concerns.
“Shell is moving in the right direction of better governance,” said one leading investor. “But we feel very uncomfortable with its announcement that it won’t update us again until November. There is no reason why it should take five months, and it is important that it’s not done in secret.”
Investors also want to use the annual meeting to ask questions on issues such as the pay-offs given to Shell’s ousted executives, the investigation by America’s Securities Exchange Commission and the company’s internal review.
The Association of British Insurers (ABI), the shareholder trade body that has facilitated meetings between Shell and investors, is preparing to issue an “amber top” alert to members, indicating its concerns ahead of the meeting.
Peter Montagnon, head of investment affairs at the ABI, said: “Although we have no specific concerns on the resolutions proposed by Shell, the issues surrounding the company are such that we feel a warning to investors is needed.
“Although we are pleased with the latest announcement from Shell, institutions want to go to the annual meeting to make their degree of interest clear. They also want to be kept updated over the summer.”
One leading shareholder said: “Shell has to understand that the presumption of trust between us has been destroyed in the past six months. It needs to be rebuilt. This will involve transparency and dialogue.”
Last week Shell bowed to pressure and published some details of its corporate- governance review in advance of next week’s annual meeting.
The company said it was considering ending its dual-board structure and appointing a chief executive. Favourite for the post is Jeroen van der Veer, who is currently chairman of Shell’s committee of managing directors.
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: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
