Shell said that it had already agreed to some changes in its pay arrangements before the defeat on Tuesday but would consider wider reforms.
Posts Tagged ‘Jorma Ollila’
Shell Starts Talks With Shareholders on Executive Pay Rejection
Shell awarded 78,889 shares to Van der Veer worth about 1.34 million euros ($1.8 million) while Chief Executive Officer- designate Peter Voser got 39,656 shares under the same program. Shell paid out shares worth 4.2 million euros to its five directors, David Williams, a spokesman based in The Hague, said in a phone interview today.
How not to lose the race over pay and bonuses
The decision by Royal Dutch Shells remuneration committee to overrule its own pay policy for top executives for the second year running looks terrible. Like Xstrata, whose shareholders on Tuesday lodged a significant protest against the mining companys remuneration package, Shell has put itself in the line of fire. Where did they go wrong? Simple: the committee exercised its discretion twice in two years to grant shares that executives did not, under a strict interpretation of Shells own rules, deserve, and it did so without going back to shareholders.
Well-off chiefs turn to charity
Jorma Ollila, chairman of Nokia and Royal Dutch Shell, says it can help win back respect as long as it does not look like an afterthought. “The best thing is if you don’t do it after the facts but that it is an ongoing feeling,” he says. “Philanthropy is one way [to regain public trust] but it needs to be part and parcel of what you do every day.”
Sharp divide in public opinion on bonus culture
Outrage is felt not just by the general public but by fellow business leaders. Jorma Ollila, chairman of Nokia and Royal Dutch Shell, said: “It doesn’t help any of us when we have such public instances of excess and even wrongdoing.”
Jorma Ollila tribute
Mr. Ollila demonstrates his pragmatism defending Shells recent decision to stop investing in wind and solar energy and focus generally on biofuels as its approach to climate change measures.
Groups ‘risk repeating recession errors’
Jorma Ollila, chairman of Nokia and Royal Dutch Shell, said: “Let’s not cut human capital so it hurts us when we get out of this in two or three years. What I see and what I hear is a clear conscientiousness on this issue. But there is a danger that this recession could distract people from the reality.”
Jorma Ollila: Champion of Nordic capitalism
Mr Ollila demonstrates his unflappable side when asked how Shell’s recent decision to stop investing in wind and solar energy and only focus on biofuels plays to its values of trying to address climate change. “It is a business portfolio decision, above all. Not everyone can be a jack of all trades. It is more about pragmatism,” he says.
Wow! said Ollila
The dispute ended in victory for the Russian side. Shell and its partners in Sakhalin Energy sold their controlling interest in the venture to the Russian state-owned energy company Gazprom, and are now minority shareholders.
Clock ticks in BP race to pick chairman
BP, having searched for a new chairman for 18 months, BP now has to find one in as many weeks.
Jorma Ollila speaks out
Jorma Ollila, the head of the European Round Table of Industrialists and chairman of Nokia and Royal Dutch Shell, told the Financial Times that large, healthy companies were deeply concerned about whether their suppliers could get credit.
Shell chiefs early challenges
Malcolm Brinded, the head of exploration and production, is skilled at dealing with governments, but was tarnished by Shells repeated writedowns of its reserves in the aftermath of the misreporting scandal that emerged in 2004.
Finance officer Peter Voser takes command at Royal Dutch Shell
The Anglo-Dutch group said that the appointment of Mr Voser came after a review of both internal and external candidates. He saw off two other Shell candidates: Linda Cook, the American head of Shell’s Gas and Power business, and Malcolm Brinded, the British head of exploration and production.
ANALYSIS: A break with tradition at Royal Dutch Shell
Like its peers, Shell has been spending with gay abandon but at $60 per barrel much of the industry’s new frontier has fallen below the water line. A new round of cost-cutting must be in the offing and who better to impose financial discipline in a downturn?
Shell Picks New CEO For Difficult Times
Voser was already one of the potential candidates back in 2007, when van der Veer announced his retirement, but there had been some hope that the head of North America, Linda Cook, would be announced as the company’s first female CEO.


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