Shell announces further progress in structure and governance
Posted: 13 July 2004
The Royal Dutch/Shell Group of Companies (Shell) appointed Citigroup and N M Rothschild as financial advisors to the Steering Committee, chaired by Lord Kerr, reviewing Shell's structure and governance.
On 17 June 2004, Shell confirmed that the Review, first announced on 5 March 2004, included possible simplification of the management structures of the Boards and the Group; improvements to decision-making processes and accountability and enhancing effective leadership for the Group as a whole.
Membership of the Steering Committee is drawn from the Boards of the two parent companies, the Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, p.l.c. The Committee is assisted by a Working Group of senior Shell executives and external legal advisers, details of which were announced on 17 June 2004.
Since the Annual General Meetings of the Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, p.l.c., on 28 June 2004, Lord Kerr and his Steering Committee colleagues have been in discussions with major investors. These discussions continue. The selection of financial advisers enables the Steering Committee to deepen its analysis of key options.
Shell has indicated its intention to publish the results of the review of governance and structure in November 2004 in order to present resolutions to shareholders by its Annual General Meetings in April 2005.
For more information see www.shell.com
Posted by Richard Price,
Editor Pipeline Magazine
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