Lloyds List: Last Word: By any other name...: “Royal Dutch/Shell's corporate changes are going to require a large volume of investment in new letter heads and logos just to remove a forward slash.”: “…van der Veer told delegates his company was ashamed of the reserves slashing and the scandal of over optimistic bookings in the past. He said his management had felt like naughty school boys being sent to the corner to think about what they had done before repenting. We guess the fines from the US and UK regulators were enough punishment for the group then.” (ShellNews.net)

Nov 02, 2004

Royal Dutch/Shell's corporate changes are going to require a large volume of investment in new letter heads and logos just to remove a forward slash.

The new group, to be known as Royal Dutch Shell (notice the difference?), will be headquartered in the Netherlands and will have its primary listing in London.

Around 200 staff from the London offices will be moved over to the Netherlands (if they want to go) while the rest of the staff will remain.

There are bound to be more organisation changes and more expenditure required, but with the group spending around $14bn a year it probably will not be a huge dent.

Before Jeroen van der Veer announced the corporate changes at Royal Dutch/Shell, he was using an analogy of the naughty school boy to show how his company has felt since slashing a quarter of its booked reserves.

At last week's Oil ' Money conference van der Veer told delegates his company was ashamed of the reserves slashing and the scandal of over optimistic bookings in the past.

He said his management had felt like naughty school boys being sent to the corner to think about what they had done before repenting. We guess the fines from the US and UK regulators were enough punishment for the group then.