The Shell Board have been making relatively good moves recentely, especially with their appointments, previously of their new CFO and now of their new Chairman-designate. Important given their slip-ups which have continued for too long.
It is good to see them going outside, not only of the company but of the industry, to find executive talent. I do not need to talk about the international and multinational, etc. abilities of Jorma Ollila as an international executive and it is good to see someone of his calibre and experience focused on Shell.
Good move!
OAM
See article:
Royal Dutch Shell Plc, which replaced its senior executives after being forced last year to restate oil reserves, named Nokia Oyj's Jorma Ollila as chairman, the first non- British or non-Dutch person to get the role.
Ollila, Nokia's chairman and chief executive officer, will succeed Aad Jacobs in the non-executive role from June 1, 2006, Shell, based in The Hague, said today in a PR Newswire statement. Ollila, 54, earlier this week said he will step down next year as CEO of the Finnish mobile-phone maker, the world's biggest.
Shell is seeking to restore investor confidence after overstating its oil and gas reserves by 41 percent, leading to the resignation of former Chairman Philip Watts, the loss of the company's top tier credit rating and regulatory probes. Cost overruns and delays at projects such as its Sakhalin oil and gas venture in Russia have also spurred concern.
See full Article.
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