The New York Times: Ousted Chairman of Shell Got $1.93 Million Package By HEATHER TIMMONS Published: June 26, 2004 LONDON, June 25 – The Royal Dutch/Shell Group’s former chairman, Sir Philip B. Watts, received a severance package worth £1.06 million ($1.93 million), the amount he would have earned had he stayed on until retirement, the [...]
Posts on ‘June 26th, 2004’
Shell Ex-Chairman Receives $2 Million Severance Payment
The Wall Street Journal: Shell Ex-Chairman Receives $2 Million Severance Payment Associated Press Posted 26 June 04 LONDON — Royal Dutch/Shell Group of Cos. has paid former Chairman Philip Watts, who resigned in the wake of the company’s embarrassing overstatement of its proven oil and gas reserves, a lump-sum severance payment of nearly $2 million, [...]
Shell Holders Suit Meant To Correct Governance
The Wall Street Journal: Shell Holders Suit Meant To Correct Governance By David Bogoslaw DOW JONES NEWSWIRES Posted 26 June 04 NEW YORK — A shareholders derivative lawsuit filed Friday against the boards and some top executives of Royal Dutch Petroleum Co. (RD) and the Shell Transport & Trading Co. (SC) would break new ground, [...]
Houston Chronicle: Shell pays $2 million to Watts: Reserves report forced departure of ex-chairman
Houston Chronicle: Shell pays $2 million to Watts: Reserves report forced departure of ex-chairman By THOMAS WAGNER Associated Press June 26, 2004, 12:17AM LONDON – Royal Dutch-Shell Group of Companies has paid former chairman Philip Watts, who resigned in the wake of the company’s embarrassing overstatement of its proven oil and gas reserves, a lump [...]
Former Shell chief awarded £1m payoff
The Times: Former Shell chief awarded £1m payoff By Jenny Davey and James Doran in New York June 26, 2004 SIR PHILIP WATTS, former chairman of Shell, the troubled oil giant, has secured a £1 million payoff just months after the oil group was alleged to have misled investors about the scale of the company’s [...]
Some fear that Shell is not going to undergo the drastic shake-up that it is clear is required
The Times: ‘Some fear that Shell is not going to undergo the drastic shake-up that it is clear is required’ By Patience Wheatcroft June 26, 2004 WHAT a generous gesture from Shell’s remuneration committee. There was Sir Philip Watts, contemplating a future on a meagre pension of just £568,000 but now he has at least [...]
Sacked Shell boss walks away with £1m
Daily Telegraph: Sacked Shell boss walks away with £1m: “despite his role in the oil giant’s reserves debacle” By David Litterick (Filed: 26/06/2004) Sir Philip Watts: huge payout despite failure on reserves Sir Philip Watts was paid more than £1m compensation from Shell despite his role in the oil giant’s reserves debacle. The former chairman [...]
The Independent: Investor fury over £1m pay-off for Shell chief
The Independent: Investor fury over £1m pay-off for Shell chief By Michael Harrison, Business Editor 26 June 2004 Shell outraged investors yesterday by giving its disgraced former chairman Sir Philip Watts a pay-off worth more than £1m. Sir Philip, who was ousted from the oil giant in March following a scandal over the misreporting of [...]
The Independent: Turn your big idea into a money-making business
The Independent: Turn your big idea into a money-making business Got a great business concept, but need some sound advice? Nicola McCormack explains the secrets of going it alone 26 June 2004 Whether it’s a bolt from the blue or an invention that’s taken decades to perfect, if you are convinced your Big Idea will [...]
The Guardian: What happened next?
The Guardian: What happened next? Neil Farish worked as a coach on a dry ski slope in Edinburgh while studying for his degree. But what does he do now? Interview by Adeline Iziren Saturday June 26, 2004 Neil Farish in now an entrepreneur and co-founder of Lightweight Medical, which designs life saving medical products for [...]
The Guardian: Sowing seeds for success
The Guardian: Sowing seeds for success You needn’t wait till graduation – Liz Brown reports on five ways to start a business while at university Saturday June 26, 2004 As well as being places of learning, universities are often seedbeds for new businesses and platforms for the entrepreneurs behind them. Whether you’re dreaming up your [...]
The Guardian: Shell’s £1m goodbye for ousted Watts
The Guardian: Shell’s £1m goodbye for ousted Watts David Gow Saturday June 26, 2004 Sir Philip Watts, ousted as chairman for his role in Shell’s reserves fiasco, yesterday celebrated his 59th birthday with a £1.06m severance package. Shell, facing a stormy annual meeting on Monday, said Sir Philip was being paid his basic salary from [...]
Shell in more controversy with Watts pay-off
Financial Times: Shell in more controversy with Watts pay-off By Sundeep Tucker and James Boxell in London Posted 26 June 04 Royal Dutch/Shell sparked a fresh bout of investor anger on the eve of its annual meetings when it announced on Friday that Sir Philip Watts, its former group chairman, is to receive a pay-off [...]
Shell pays former executive nearly $2 million in severance
NewsDay.com: Shell pays former executive nearly $2 million in severance LONDON (AP) _ Royal Dutch/Shell has paid former chairman Philip Watts, who resigned in the wake of the company’s embarrassing overstatement of its proven oil and gas reserves, a lump sum severance payment of nearly $2 million, the company said Friday. Watts resigned in March [...]
Pension funds file suit on behalf of Shell
Financial Times: Pension funds file suit on behalf of Shell By Sheila McNulty in Houston 26 June 2004 Two US pension funds have filed a lawsuit on behalf of Royal Dutch/Shell, seeking damages from its boards, current and past top executives and its accountants – PwC and KPMG – for overstating the group’s proved reserves. [...]
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