A good move for Shell to have snapped up Jorma Ollila, head of Nokia, as their Non-executive Chairman-designate. His experience will be of great value to Shell, of course, if he dedicates the time necessary.
The article refers to him allocating 2 to 3 days a week to this position. This may or may not be enough, especially at the beginning when much work needs to be done, and I am sure that he will be flexible on his allocation of time from week to week.
Mr. Ollila will also be remaining as Non-executive Chairman of Nokia and as a Director of the Ford Motor Company.
A good portfolio of directorships for an effective Director is made up of one non-executive chairmanship and two directorships. NO MORE!
I understand that he knows Nokia well, although, as comented earlier, he should not have this job, however, if he is to continue as Chairman of Nokia, he has the governance obligation to do the job right.
Two chairmanships is too much for effective performance and he should give one up.
OAM
See article:
Shell, the world's third largest energy group, on Thursday tapped Jorma Ollila, the man who transformed Nokia from a little-known Finnish group into the world's leading mobile phone maker, to be the non-executive chairman of its newly unified board.
Investors reacted favourably to the announcement, with analysts saying that Shell had managed to make two impressive senior appointments amid a raft of bad news, from delayed projects and cost overruns to poorer-than-expected earnings.
See full Article (paid subscription required).
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