Will disgraced
Shell boss
Sir Philip Watts
be stripped of
his knighthood?
POSTING ON SHELL BLOG BY "SirPhil" ON 31 Jan 2012
"Having read that the former RBS-CEO, Fred Goodwin, has been stripped of his knighthood by UK authorities. Makes you wonder if and when Sir Phil Watts will stripped of his one. No doubt Phil's selfish behaviour at the helm of Shell did more harm to the industry and private investors than Fred."
RELATED ARTICLES
Memos expose Shell's years of lying
EXTRACT: The correspondence between Mr Watts and Mr Van de Vijver began in June 2001 when Mr Van de Vijver took over as head of exploration and production. He was promoted after Sir Philip was made chief executive partly because of his success with reserves. The two engaged in a "pointed dialogue", with Mr van de Vijver complaining Shell had overbooked reserves throughout the 1990s.
'It happened on my watch. I am determined to fix it'
EXTRACT: Shell chairman Sir Philip Watts is resisting pressure to quit following the oil giant's devaluation of its reserves.
Royal Dutch Shell still diddling its shareholders
EXTRACT: What a mad world we are in when the person most responsible for the fraud, Sir Phillip Watts KCMG, escaped with a severance/pension package of $18.5 million and also managed to retain his title and his Order of St Michael and St George, a British order of chivalry founded in 1818.
FSA Interrogation of Sir Philip Watts following resignation in disgrace as Shell Group Chairman
EXTRACT:
Transcript of Financial Services Authority Interview with Sir Philip Watts: 24 June 2004
Samantha Griffin for the FSA to Sir Philip:
"You are not under arrest and are free to leave any time. The interview is being conducted under caution. That is to say you do not have to say anything but it may harm your defence if you do not mention when questioned something you later rely on in Court. Anything you say may be given in evidence. Do you understand?"
Link for searchable Transcript of Financial Services Authority Interview with Sir Philip Watts: 24 June 2004: 75 pages – every page marked "CONFIDENTIAL"
Peter Voser, another Royal Dutch Shell CEO tainted by scandal
EXTRACT:
by John Donovan of royaldutchshellplc.com
Soon after Sir Philip Watts was escorted by security guards from the Shell Centre in humiliation and disgrace as a result of his leading role in the Royal Dutch Shell securities fraud, Shell directors appointed Jeroen van der Veer to replace him.
This was despite the fact that van der Veer and fellow Royal Dutch Shell Group Managing Director, Malcolm Brinded, "only narrowly avoided being sacked over their role in the oil giant's reserves scandal." Both had signed Form 20F Declarations submitted to the U.S. Securities & Exchange Commission containing materially false information. Both were subsequently co-defendants in a U.S. class action lawsuit settled by Shell in which Royal Dutch Shell, as part of the multi-million dollar settlement, made a range of commitments about future governance of the oil giant.
THE SADISTIC SACKING OF SHELL CHIEF EXECUTIVE WALTER VAN DE VIJVER
EXTRACT: He resigned as a result of the cumulative assault, shocked, humiliated and disgusted at the shabby inhuman treatment he received from his colleagues.
--
Antonio L. Buensuceso Jr.
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