Financial Times: Scrub the shell: “Years of sub-standard exploration and production performance have left Shell adrift of its peers in reserve replacement and reserve life.”
Published: August 12 2004 05:00 | Last updated: August 12 2004 05:00
Meeting investors’ expectations is essential to avoid share price disappointment. Comments from Jeroen Van der Veer, Royal Dutch/ Shell’s chairman, that it was examining drastic options for corporate reform have helped build expectations of structural change. Agreement in principle to unify Shell’s two boards is the least painful and simplest answer.
The move should be applauded. Lack of clear independent oversight allowed Shell’s managers to conceal the extent of its reserves problem for two years. If a new unified board is established with separate responsibility between the chief executive and a strong non-executive chairman, investors would be reassured on the transparency of decision-making.
Shell is also examining the possibility of combining its two holding companies. This more radical structural change would probably be well received – and allow Shell’s management to seize the initiative by exceeding expectations. One option is to alter the structure to reduce Royal Dutch’s 60 per cent stake to 50 per cent. Equal control with Shell Transport and Trading would level the cultural playing field and remove a Dutch veto.
But a unified board still does not address Shell’s fundamental strategic problem. Years of sub-standard exploration and production performance have left Shell adrift of its peers in reserve replacement and reserve life. Satisfying investors that it can improve its operational performance will be a tougher bet.
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.
