The Daily Telegraph: Shell seeks successor for interim chairman
By Christopher Hope Business Correspondent (Filed: 05/03/2004)
Shell, the embattled oil giant, is set to appoint headhunters to look for a new external chairman of its UK arm in the next few months. The successful candidate will replace Lord Oxburgh, appointed interim UK chairman this week, who is due to retire next year.
The company will be hoping that the appointment of an independent chairman will head off concerns from some investors about the way the company is being run.
Shell is in the middle of a boardroom crisis after the UK and Dutch boards sacked Shell's executive chairman Sir Philip Watts this week. His departure comes two months after the company revealed it had overstated its proven oil and gas reserves by 20pc or 3.9billion barrels.
Shell has appointed lawyers from Davis, Polk and Wardwell, a US firm, to carry out an independent review of the reserves.