The £80million boss of Shell is preparing to join the stream of FTSE100 bosses heading for the door.
Ben van Beurden – who, it emerged in March, bagged £4.6million in bonuses on top of his £1.4million salary last year, taking his total pay and bonuses to almost £80million during his nine years at the helm – could step down as soon as 2023 as the oil giant begins its search for a replacement.
His departure will mark the end of an era for Shell, as it tries to toe the tricky line of boosting Britain’s energy security with embracing sustainable technologies. While Van Beurden’s legacy includes a commitment to reduce oil production, he has been criticised for failing to take more drastic action.read more
A fifth of Shell shareholders have voted to reject its climate transition plans, almost double the rebellion that it endured a year ago.
The revolt came at a chaotic annual general meeting in London that was delayed for several hours after disruption by environmental protesters. Sir Andrew Mackenzie, Shell’s chairman, called police to clear the room at Central Hall in Westminster and three people were arrested outside the venue.
Shell, Europe’s biggest oil and gas group, is under intense scrutiny by investors and wider society over the speed of its plans to make the transition to cleaner energy. It has committed to eliminating its emissions to net zero by 2050, but faces pressure to make steep cuts in the near term, including from aread more
May 24th, 2022
by John Donovan.
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Reuters
Climate protesters block start of Shell shareholder meeting
By Shadia Nasralla and Ron Bousso:
LONDON, May 24 (Reuters) – A couple of dozen climate protesters disrupted Shell’s (SHEL.L) annual general meeting (AGM) on Tuesday, chanting slogans and holding banners as Shell Chair Andrew Mckenzie tried to start the meeting.
Shell is due to ask its shareholders to vote on a resolution supporting its climate strategy and rebuff a climate resolution from activists, another iteration of which garnered 30% of votes at last year’s AGM.read more
May 24th, 2022
by John Donovan.
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Breaking News: Security Fiasco at Shell AGM.
11.15 am 24 May 2022
Shell Plc Chairman Sir Andrew Mackenzie announced to assembled shareholders that the AGM meeting is halted because protestors have superglued themselves to seats.
Does the question, therefore, arise of how the activists managed to smuggle superglue into the AGM? The possibility must have been considered bearing in mind that the same superglue tactics have been used previously on a number of occasions by protestors at the Shell Centre building and reported extensively by the news media?read more
Reports are coming in that about 70 people have taken over Shell’s AGM and brough the meeting to a complete standstill.
Shell Chairman Sir Andrew McKenzie was forced to halt the meeting, taking place in London this morning. He is currently sitting behind his desk on stage with no action taken.
Numerous activists are accusing Shell’s board and shareholders of “ignoring the United Nations” and “ignoring ordinary people”.
McKenzie is trying to restore order, without success so far.read more
LONDON, March 01, 2022 — Shell plc (“Shell”) today announced the appointment of Sinead Gorman as chief financial officer (CFO), effective April 1, 2022. She will become a member of both Shell’s Executive Committee and Board of Directors. After a distinguished career of 17 years with Shell, the last five years as CFO, Jessica Uhl will step down from her role on March 31, 2022. Jessica will be available to assist Sinead and the Board with transition until June 30, 2022, after which she will leave the group.read more
Dec 11th, 2021
by John Donovan.
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Express
Brexit Britain win confirmed as Shell overwhelmingly backs UK move – Dutch snubbed
SHAREHOLDERS in oil giant Shell have given their backing to proposals to move the Anglo-Dutch company’s headquarters to London from the Netherlands.
By TOM HILL: 14:11, Fri, Dec 10, 2021 | UPDATED: 14:11, Fri, Dec 10
According to preliminary polling 99.77 percent of shareholders so far had backed the move with just under 58 percent of votes cast. Final results are expected later in the day although it is thought the result is unlikely to change.
The company follows another Anglo-Dutch firm, Unilever, which also decided to move its headquarters to London from the Netherlands. Shareholders were asked to vote on a range of new proposals aimed at simplifying the company’s structure which will also see it drop ‘Royal Dutch’ from its official name.read more
Dec 11th, 2021
by John Donovan.
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yahoo!finance
Shell shareholders vote to delist from Netherlands
Saleha Riaz : Fri, December 10, 2021, 3:20 PM
Shareholders in oil giant Shell (RDSB.L) have overwhelmingly voted to switch its headquarters from the Netherlands to the UK, ending the company’s dual share structure, and drop “Royal Dutch” from the name.
The move, planned for early 2022, “will enable a simplification of the company’s share structure and an increase in the speed and flexibility of capital and portfolio actions”, said Shell’s chair Sir Andrew Mackenzie said.
He said the board believes “the simplification will strengthen Shell’s competitiveness and accelerate both shareholder distributions and delivery of its strategy to become a net-zero emissions energy business by 2050”.read more
Dec 10th, 2021
by John Donovan.
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REUTERS
Royal Dutch Shell shareholders back plan to shift to London
By Toby Sterling and Ron Bousso: December 10, 2021: 11:34 AM GMT
British tax base seen making buybacks, dividends easier
Dutch withholding tax a factor in Shell’s decision
Shell says move will not affect its environmental policy
ROTTERDAM/LONDON, Dec 10 (Reuters) – Royal Dutch Shell PLC (RDSa.L) shareholders voted overwhelmingly on Friday in favour of a plan to end the company’s dual share structure and move its headquarters to London from The Hague.
With roughly 58% of outstanding shares cast, a preliminary tally showed 99% of shareholders supported a special resolution enabling the corporate structure change.read more
When Royal Dutch Shell’s new chairman, Andrew Mackenzie, asks shareholders on Friday for their vote to move the global oil giant’s headquarters from the Netherlands to Britain and drop the “Royal Dutch,” he will also be asking to return the company home.
In a history better suited to fairy tales than the financial pages, Shell rose from a small seashell shop in the East End of London. In the 1830s, a Jewish curio seller named Marcus Samuel began importing tropical seashells from the Far East. His shop sold “small Shells for Ladies’ work,” along with large, shining specimens such as conchs and nautiluses for still-life drawing.read more
Nov 16th, 2021
by John Donovan.
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The Telegraph
Shell turns its back on Royal Dutch heritage after climate ruling and dividend tax
Shell’s jumping ship to the UK bids farewell to over 130 years of association with the Dutch monarchy
By Matt Oliver 15 November 2021 • 6:09pm
For more than 130 years, Royal Dutch Shell has boasted of its historic links with the royal family of the Netherlands.
The energy behemoth can trace its heritage back to a charter granted by King William III for oil exploration in Indonesia in 1890, making it one of the world’s oldest energy companies and a trailblazer of modern capitalism.read more
Nov 15th, 2021
by John Donovan.
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The Washington Post
Shell wants to move headquarters amid cleaner energy shift
By Associated Press: Today at 6:58 a.m. ESTLONDON — Royal Dutch Shell proposed moving its headquarters from the Netherlands to the United Kingdom and streamlining its structure Monday in hopes of making it easier to move forward in a world transitioning away from a dependence on fossil fuels.
The company, which has been incorporated in the U.K. with Dutch tax residency and dual class shares since 2005, said it wanted to move to a more conventional structure to be able to make the company more competitive as it seeks to meet the challenges of shifting toward cleaner energy.
Dutch officials said they were “unpleasantly surprised” by the move.
“The government deeply regrets that Shell wants to move its head office to the United Kingdom,”Dutch Economic Affairs and Climate Minister Stef Blok said. “We are in talks with the top of Shell about the implications of this move for jobs, critical investment decisions and sustainability.”read more
Nov 15th, 2021
by John Donovan.
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CNBC
Shell ditches the Dutch, moves to London in share structure overhaul
PUBLISHED MON, NOV 15 20212:30 AM
KEY POINTS
Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
The Anglo-Dutch firm has been in a long-running tussle with the Dutch authorities over the country’s 15% dividend withholding tax, which Shell sought to avoid paying with its two share classes. Its new structure would resolve that issue.
The Dutch government said on Monday it was “unpleasantly surprised” by Shell’s plans to move to London from The Hague.
Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
The company, which long faced questions from investors about its dual structure and had recently been hit by a Dutch court order over its climate targets, aims to drop “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc.read more
Nov 15th, 2021
by John Donovan.
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Notice of General Meeting – Shell seeks Shareholder approval to change articles to implement a simplified structure
Nov 15, 2021
Today, Royal Dutch Shell plc (“Shell”) posted a circular which includes the notice of its GM (the “Circular” and the “Notice”), which can be viewed and downloaded from www.shell.com/gm. The Notice states that the GM is scheduled to be held at Rotterdam Ahoy, Ahoyweg 10, 3084 BA Rotterdam, the Netherlands at 10:00 (Dutch time) on Friday December 10, 2021.
Shareholders are asked to vote on a special resolution to amend the Royal Dutch Shell plc Articles of Association to allow the simplification of the company’s structure
Virtual and physical attendance and participation enabled for the General Meeting (“GM”)
Shareholders encouraged to submit their proxies in advance of the GM, but voting is enabled during the meeting
Shell proposes simplified structure
Proposal will establish a single line of shares to eliminate the complexity of Shell’s A/B share structure.
Proposal will also align Shell’s tax residence with its country of incorporation in the UK, where it will hold Board and Executive Committee meetings, and locate its chief executive and chief financial officer.
THE HAGUE, November 15, 2021
The Board of Royal Dutch Shell plc (Shell) today announced a proposal to simplify the company’s share structure to increase the speed and flexibility of capital and portfolio actions. The simplification is designed to strengthen Shell’s competitiveness and accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business.read more
Nov 15th, 2021
by John Donovan.
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INSTANT VIEW 2-Reaction to Shell scrapping dual share structureby Reuters Monday, 15 November 2021 08:45 GMT
LONDON, Nov 15 (Reuters) – Royal Dutch Shell will scrap its dual share system in favour of a single class of shares to boost shareholder payouts and simplify its structure, it said on Monday.
MARKET REACTION: Shares in Royal Dutch Shell rose 1.8% in early European trade after the announcement.
COMMENTS:
ANALYSTS AT JEFFERIES
“We see merits in the proposed restructuring of Shell’s shares structure and tax residence. Among other benefits, the proposed changes will increase Shell’s ability to buy back shares which was until now constrained by Class B shares liquidity.read more
Listen and read proof in audio and transcript form of Shell CEO Ben van Beurden’s cover-up tactics in the OPL 245 Nigerian corruption scandal. The instruction given by him in the covertly recorded call to CFO Simon Henry was at odds with Shell’s claimed core business principles. Cover-up and obstruction, instead of transparency and integrity, says Shell critic John Donovan
JOHN DONOVAN TV DOCUMENTARY INTERVIEW
SHELL EXECUTIVES AT THE CENTER OF A SCHEME TO STEAL $1.3 BILLION FROM NIGERIA’S PEOPLE
SHELL ADMITS DEALING WITH NIGERIAN MONEY LAUNDERER – BBC NEWS
SHELL, ENI AND NIGERIAN OFFICIALS IN OPL 245 CORRUPTION SCANDAL
INVESTIGATION OF OPL 245 NIGERIAN OIL CORRUPTION SCANDAL
DUTCH EARTHQUAKES CAUSED BY SHELL/EXXON
SHELL KILLS FOR OIL IN NIGERIA
ESTHER KIOBEL: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
SHELL LIED ABOUT CLEANING UP OIL IN NIGER DELTA
SHELL SPIES INFILTRATED NIGERIAN GOVERNMENT
LEGO DROPS SHELL OVER GREENPEACE OIL SPILL VIDEO
SHELL ARCTIC DRILLING ACCIDENTS
SHELL KNEW ABOUT CLIMATE CHANGE DECADES AGO
ABANDONED BY SHELL: KEITH MACDONALD & FAMILY, VICTIMS OF RADIOACTIVE CONTAMINATION AT WORK
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
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