UK/IRELAND

Shareholders: Shell board IS responsible for debacle

Almost 40% of the shareholders of the Dutch stock of the Royal Dutch / Shell group delivered a well deserved rebuke to the managing directors and supervisory board of the oil giant, voting against its proposal to discharge the executive groups from responsibility in respect of their management for 2003.

Shareholders: Shell board IS responsible for debacle

At the simultaneous investor meeting held in London, 10% of the shareholders there voted against the executive remuneration package. Both resolutions ended up being carried.

Shell also stuck to its original timeframe of November to deliver a review into its structure and governance, despite investors’ calls for the review to be made public in September.

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