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The Guardian: Shell appoints new finance director

The Guardian: Shell appoints new finance director

Thursday June 24, 2004

Oil giant Shell today announced the appointment of a new finance director as it seeks to recover from the debacle over the booking of oil reserves.

Shell has recruited Peter Voser, the current finance head of Asea Brown Boveri (ABB), the Swiss engineering group. He will replace Judy Boynton, who quit Shell’s finance job in April after the company admitted in January that it had overstated its oil reserves.

Shell has been forced to restate its reserves four times this year to the consternation of its shareholders. Besides Ms Boynton, the chairman, Philip Watts, and oil and gas chief, Walter van de Vijver, have also been forced out. read more

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The New York Times: Shell Appoints Voser to Finance Post

The New York Times: Shell Appoints Voser to Finance Post

By THE ASSOCIATED PRESS

Published: June 24, 2004

Filed at 10:15 a.m. ET

LONDON (AP) — Oil giant Royal Dutch/Shell Group took another step in rebuilding its tarnished image Thursday, appointing Peter Voser to the key finance director post.

Voser spent 20 years at Shell in a variety of financial roles, before jumping to near-bankrupt Swiss engineering company ABB Ltd. in 2002.

He has been credited with restoring ABB’s financial strength, but was seen as unlucky not to be promised the chief executive position earlier this year. read more

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ThisIsLondon: Friends of the Earth target Shell

ThisIsLondon: Friends of the Earth target Shell

24 June 2004

SHELL has overstated its environmental performance as well as its reserves, says Friends of the Earth. It is still ‘flaring’ (burning off) gas in Nigeria, which is wasteful and damaging, and is taking too long to clear up oil spills.

FOE’s Brian Shadd, just back from the Nigerian delta, says a huge spill in Port Harcourt last December has yet to be cleaned up.

FOE says Shell is ‘putting more effort into green spin than green delivery’.

Shell says 141 of last year’s 221 spills were deliberately caused, some by thieves. read more

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Financial Times: Shell appoints ABB executive as new CFO

Financial Times: Shell appoints ABB executive as new CFO

By Josephine Cumbo and Haig Simonian in Zurich

Published: June 24 2004 7:45 | Last Updated: June 24 2004 10:02

Royal Dutch/Shell, the energy giant, has ended its search for a new chief financial officer with the appointment of Peter Voser, the executive widely credited with turning round Swiss engineering group ABB, to the role.

Mr Voser, 46, will join the Anglo-Dutch group in October after a two-year career as chief financial officer with ABB.

Prior to his appointment with the engineering group, Mr Voser spent 20 years with Shell holding a number of global finance positions, the last being CFO of the global oil products division. read more

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Shell appoints new finance chief: ‘a Shell veteran’

BBC News: Shell appoints new finance chief: ‘a Shell veteran’

24 June 04

Troubled oil giant Shell has appointed a new finance chief as it seeks to reassure nervous investors.

Peter Voser, formerly chief financial officer at Swiss firm ABB, will join Shell with effect from 4 October.

Shell’s former CFO Judy Boynton quit in April this year following a row over the firm’s booking of oil reserves.

Shell has been forced to restate its reserves four times this year, sparking anger amongst shareholders and leading several top executives to quit.

Ms Boynton’s departure had been preceded by the removal of chairman Philip Watts and oil and gas chief Walter van de Vijver. read more

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ROYAL DUTCH SHELL GROUP: The Shell Report 2003

ROYAL DUTCH SHELL GROUP: The Shell Report 2003

Published 10/06/2004

Posted 24 June 04

The Royal Dutch/Shell Group of Companies (Shell) published its seventh Shell Report today, following the publication of the Annual Reports and Accounts of Royal Dutch Petroleum Company and the “Shell” Transport and Trading Company, p.l.c. The Shell Report describes Shell’s financial, environmental and social performance in 2003.

“Our belief in the need to live by our business principles and contribute to sustainable development to deliver business value for our shareholders has been strengthened. We remain committed to being transparent and open about our performance, the failures as well as successes, which remain the Shell Report’s main goal,” said Jeroen van der Veer, Chairman of the Committee of Managing Directors of the Royal Dutch/Shell Group of Companies. read more

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SHELL PRESS STATEMENT: Announcement of appointment of new CFO

SHELL PRESS STATEMENT: Announcement of appointment of new CFO

24/06/2004

The Board of Directors of The “Shell” Transport and Trading Company, p.l.c. is pleased to announce the appointment of Mr Peter Voser as a Director with effect from 4 October 2004. With effect from the same date, Mr Voser will be appointed a Group Managing Director and Director of Finance of the Royal Dutch/Shell Group of Companies.

At present, Peter Voser is the Chief Financial Officer and a Member of the Group Executive Committee of the Asea Brown Boveri (ABB) Group of Companies, based in Zürich, Switzerland. ABB is a leader in power and automation technologies operating in around a 100 countries and employs about 110.000 people. From 1982 to March 2002, Mr Voser held a variety of Finance and business roles with Shell in Switzerland, UK (London), Argentina and Chile. In his last assignment, he was the Chief Financial Officer on the Global Oil Products Executive Committee. read more

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ABB’s Voser To Become CFO Of Royal Dutch/Shell

The Wall Street Journal: ABB’s Voser To Become CFO Of Royal Dutch/Shell read more

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Shell Transport Names Peter Voser Finance Director

The Wall Street Journal: Shell Transport Names Peter Voser Finance Director

DOW JONES NEWSWIRES

June 24, 2004 1:30 a.m.

Edited Press Release

LONDON — Shell Transport and Trading Company, said Thursday that Peter Voser has been appointed a Group Managing Director and Director of Finance with effect from Oct. 4, 2004.

At present, Voser is the Chief Financial Officer and a Member of the Group Executive Committee of the Asea Brown Boveri (ABB) Group of Companies, based in Zurich, Switzerland.

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The Times: Need to Know: June 24, 2004 Shell, Gazprom, Sakhalin-2

The Times: Need to Know read more

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Daily Telegraph: Gazprom wooed

Daily Telegraph: Gazprom wooed

24 June 04

Royal Dutch/Shell said it was in talks with Gazprom about the Russian gas company joining the Sakhalin-2 project off Russia’s far eastern coast, for which Shell is consortium leader.

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Bloomberg.com: ABB’s Peter Voser to Be Shell Chief Financial Officer

Bloomberg.com: ABB’s Peter Voser to Be Shell Chief Financial Officer

By Malcolm Shearmur

June 24 (Bloomberg) — Royal Dutch/Shell Group, the world’s second-largest publicly traded oil company, hired ABB Ltd.’s Peter Voser as chief financial officer.

Voser, 46, will take up his post Oct. 4, Zurich-based ABB said in a faxed statement. Voser will leave ABB, the world’s biggest maker of factory robots, at the end of September.

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The Guardian: Finding the right focus

The Guardian: Finding the right focus

Thursday June 24, 2004

· Lord Oxburgh of Shell rightly draws attention to carbon capture and storage (I’m really very worried for the planet, June 17) as part of our armoury against climate change. Studies on this option deserve considerably greater resources. But it would be irresponsible, as Lord Oxburgh suggests, for this to be our main response. Carbon sequestration could yet provide a weapon of last resort in a rapidly deteriorating climate scenario but its safety is unproven. This would be like prioritising leaking landfill sites over waste minimisation and recycling in the UK’s solid waste hierarchy. read more

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The Guardian: Flare-up over Shell’s ‘double standards’

The Guardian: Flare-up over Shell’s ‘double standards’

FoE report questions oil group’s green credentials

David Gow

Thursday June 24, 2004

Shell’s battered reputation took another pounding yesterday when Friends of the Earth and activists from around the world accused the Anglo-Dutch energy group of polluting communities, damaging wildlife and endangering human health.

Tony Juniper, FoE’s executive director, said Shell – a self-styled pioneer in sustainable development – had exaggerated its social and environmental performance in the same way as it had overstated its oil and gas reserves. read more

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