EXTRACT: Tom Borelli, fund manager at Feaf, said Lord Browne had spent too much time burnishing BP’s green credentials, with its “Beyond Petroleum” campaign, and not enough time paying attention to safety.
THE ARTICLE
By Stephen Foley in New York
Published: 28 March 2007
Lord Browne of Madingley, the outgoing chief executive of BP, came under fire from shareholders at Goldman Sachs at the bank’s annual meeting.
The peer has sat on the Goldman Sachs board since its flotation in 1999, but yesterday he faced calls for his resignation because of what some investors said was his poor management record at BP.
Representatives of the Free Enterprise Action Fund, an activist shareholder, said he bore responsibility for disasters such as the Texas City oil refinery explosion, where 15 BP employees died, and Alaska’s worst on-land oil spill.
The Feaf, an aggressive mutual fund, which demands companies put profits before environmentalism, last year attacked Goldman Sachs’ decision to donate environmentally sensitive land in Chile to green charities connected to the son of the then chief executive, Hank Paulson.
Tom Borelli, fund manager at Feaf, said Lord Browne had spent too much time burnishing BP’s green credentials, with its “Beyond Petroleum” campaign, and not enough time paying attention to safety.
He is a “poster child for everything a chief executive officer should not be”, Mr Borelli said. “Given Lord Browne’s record of destruction [of value], why do we need him on the Goldman Sachs board? What does he contribute? Shouldn’t we follow BP’s own shareholders and retire Lord Browne early?”
BP said in January that Lord Browne would retire in the summer, 18 months early. It is fighting to restore its reputation in the US, which has been punished by the disasters Feaf cited yesterday. A report into the Texas City explosion concluded that Lord Browne could have improved safety if he had “demonstrated comparable leadership” on this issue.
In the event, less than 7 per cent of Goldman Sachs shareholders withheld their support for the re-election of Lord Browne.
http://news.independent.co.uk/business/news/article2398939.ece
http://www.freeenterpriseactionfund.com/
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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.
