Shell: Who, Where, How Much?

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Shell is the largest operator in the British North Sea (in Joint venture with Esso). Shell has 3 refineries in the UK at Stanlow (Merseyside), Shell haven (Essex) and Eastham[30].

In the United Kingdom: Shell International Limited, can be contacted in the UK at: Shell centre, London, G.B. SE1 7NA. Phone: +44 (0)20 7934 5293 Fax: +44 (0)20 7934 5555

In the Netherlands:

Shell International B.V. PO Box 162, 2501 AN, The Hague, Netherland. Phone: +31 (0)70 377 4540 Fax: +31 (0)70 377 3115

In the United States:

Shell Oil Company, 630 Fifth Avenue, Suite 1970, New York, NY 10111. U.S.A. Phone: +1 212 218 3113 Fax: +1 212 218 3114

Institutional Investors

[31]

Royal Dutch/Shell Group operate as one, the two companies hold 60 per-cent and 40 per-cent respectively of assets. One cannot by shares in the group as such. Royal Dutch and Shell are listed separately on the world's stock exchanges.

Royal Dutch's share value, at time of writing, ranges approximately from 44 to 59 US dollars per share. Shell's share value is between 39 and 51 US dollars per share[32].

Seven-Hundred-and-Seventy large, institutional shareholders own 25 per-cent of Royal Dutch[33]. The top institutional holders being (on 30 Sept. 2001): Barclays Global Investors International: 52 276 764 shares, approximately 2.4 per-cent of Royal Dutch. State Street Global Advisors: 32 134 762 shares, approximately 1.5 per-cent of Royal Dutch. Capital Research and Management Company: 28 422 000 shares, approximately 1.3 per-cent of Royal Dutch. Vanguard Group: 27 252 224 shares, approximately 1.3 per-cent of Royal Dutch. Fidelity Management and Research Company: 26 482 036 shares, approximately 1.2 per-cent of Royal Dutch. Putnam Investment Management: 25 049 203 shares, approximately 1.2 per-cent of Royal Dutch. Deutsche Bankers Trust: 15 971 472 shares, approximately 0.7 per-cent of Royal Dutch. Northern Trust Company: 12 871 142 shares, approximately 0.6 per-cent of Royal Dutch. Wellington Management: 10 931 540 shares, approximately 0.5 per-cent of Royal Dutch. J.P. Morgan Fleming Asset Management, US: 10 663 009 shares, approximately 0.5 per-cent of Royal Dutch[34].

Large institutional investors have invested far more in Royal Dutch than in Shell. Shell tends to attract more, smaller investors. 172 institutions hold a total of 2.2 per-cent of shares in Shell. The largest holding being only around 0.7 per-cent of the company.

The largest institutional investors in Shell are: Capital Research and Management Company: 11 229 400 shares, approximately 0.68 per-cent of Shell. Capital Guardian Trust: 6 386 032 shares, approximately 0.39 per-cent of Shell. Wellington Management: 3 836 386 shares, approximately 0.23 per-cent of Shell. Invesco Inc. 2 084 294 shares, approximately 0.13 per-cent of Shell. Tempeleton Investment Counsel: 1 836 893 shares, approximately 0.11 per-cent od Shell. Pioneer Investment Management 1 034 700 shares, approximately 0.06 per-cent of Shell. UBS Warburg LLC: 978 793 shares, approximately 0.06 per-cent of Shell. World Asset Management: 710 811 shares, approximately 0.04 per-cent of Shell. State Street Research Management/Metropolitan Research: 553 100 shares, approximately 0.03 per-cent of Shell. Smith Barney Asset Management 527 483 shares, approximately 0.03 per-cent of Shell. Bryn Mawr Capital Management: 424 500 shares, approximately 0.03 per-cent of Shell. Vaughan Nelson Scarborough and McConnell: 420 360 Shares, approximately 0.03 per-cent of Shell.

People

Boards of the Parent Companies

Senior management structure within Royal Dutch comprises a Board of management (van der Veer and Roels) and a supervisory board made up of the remaining directors. The chairman of the supervisory board (van Wachem) along with members of the board of management are executive officers of the company[35].

Shell Transport and Trading has an 11 member board of directors including 3 executive officers: The chairman of the board and 2 other managing directors, currently Sir Mark Moody-Stuart, Paul Skinner and Philip Watts[36]. Skinner and Watts also hold positions as CEO of Oil Products[37] and of Exploration/Production respectively.

Until recent years the Royal Dutch/Shell group was known for its unique consensus style of management with members of the boards taking collective responsibility for decision-making. The drive for ever-greater efficiency has lead to a shift of culture: managers now take personal responsibility for operations in a given region or company division.


Executive Officers of Royal Dutch

A full listing of the directors of Royal Dutch can be found on Shell's own website at: www.shell.com/reports2000/rdEnglish/html/BoardParentbu.html. Brief biographies of all current members of the Royal Dutch Board of Management and Supervisory Board can be found here.

Lodewijk C. Van Wachem. (Born 1931, Dutch) Chairman of the supervisory board of Royal Dutch since 1992. Was a Managing Director of Royal Dutch 1977-92 and President 1982-92. Was also Managing Director of Royal Dutch/Shell Group 1977-92. He is due to retire in 2002. When he is not at the helm of Royal Dutch, Van Wachem is Chairman of the Supervisory Board of Royal Philips Electronics, Europe's largest electronics corporation: www.Philips.com. He is Vice-Chairman of the Board of Directors of Zurich Financial Services www.zurich.com and A member of the Supervisory Board of multinational Dutch chemicals group Akzo Nobel: www.akzonobel.com. He is also a member of the supervisory board of German car manufacturers BMW www.bmw.com and of life sciences corporation Bayer who recently acquired the infamous GM company: Aventis Crop Science (See forthcoming Corporate Watch briefing on Bayer). In addition, Van Wachem is a member of the Board of Directors of computer corporation IBM: www.ibm.com and of the Canadian Atco group: www.atco.com, whose business includes: Power generation, pipelines, energy services and technologies. More here.

Jeroen van der Veer (Born 1947, Dutch) President of Royal Dutch since July 2000, and with Roels part of the board of management. A managing Director of Royal Dutch since 1997 at which date he also became a Managing Director of Royal Dutch/Shell Group. van der Veer joined the Group's refining and marketing division in the Netherlands in 1971, he also worked in Curacao (Netherlands Antilles: Dutch West-Indies) and the UK. He held the position of area Co-ordinator for Sub-Saharan Africa between 1990 and 1992, following which, he became managing Director of Shell Nederland chemicals business a position he held until 1995 when he became president and Chief Executive Officer of Shell Chemical Company USA 1995-97. He is also a member of the Supervisory Board of De Nederlandsche Bank: www.dnb.nl/english/ More here.

Roels, Harry (Born 1948, Dutch) Managing Director since 2001, member of board of management of Royal Dutch. A Managing Director of Royal Dutch and of the group since 1999, Joined the Group in 1971 as a petroleum engineer. Worked in exploration and production in Malaysia, Brunei, the UK, Turkey, Norway and the Netherlands. Area Co-ordinator for a number of Latin American countries 1994-96 and Regional Business Director Middle East and Africa, Exploration and Production 1996-98. Managing Director of Shell Nederland 1998-99. In addition to his position at Royal Dutch he is General Manager of Nederlandse Aardolie Maatschappij:www.nam.nl More here.

Members of the Royal Dutch Supervisory Board

Louden, Jonkheer A: Member of the Supervisory Board since 1997. Professor Milberg, Joachim: Member of the Supervisory Board since 2000. Timmer, Jan D: Member of the Supervisory Board since 1996. Van den Bergh, M. A: Member of the Supervisory Board since 1998. De Ruiter, Hennie. Member of the Supervisory board since 1994. Jacobs, Aad G. Member of the Supervisory Board since 1998.

Shell Transport and Trading, Executive Directors

A full listing of the directors of Shell Transport and Trading can be found on Shell's own website at: www.shell.com/reports2000/rdEnglish/html/BoardParentbu.html. Brief biographies of all current members of the Shell Board or directors can be found here.

Sir Mark Moody-Stuart, Chairman. (Born: September 15, 1940) A director and subsequently, a managing director of the company and of the group since 1991 and Chairman since 1997. He joined the Group in 1966 and gained experience as a geologist in exploration. Within that division he held positions in Brunei, Australia and the North Sea. From 1978 onwards he held a number of general management positions in Europe, Asia and Africa. Following which, in 1991 he was appointed head of the Group's Exploration and Production operations, outside North America. Sir Mark is currently co-chairman of the G8 Task Force on Renewable Energy. Morehere.

Philip Watts (Born: June 25, 1945)Has been a director and subsequently a managing director of the company and of the group since 1997. Watts is Chief Executive Officer of Exploration and Production. He joined the Group as a seismologist in 1969, and held positions in the Asia-Pacific region and in Europe, leading to a position as Exploration Director, Shell UK 1983-85. From 1985 until 1991 Watts was based in The Hague, where he held various positions in Exploration and Production. He was chairman and Managing Director in Nigeria 1991-94 and left this role only months before Shell hit the headlines for its role in that country in 1995. Watts was co-ordinator of exploration and production: Europe 1994-95 and director of Planning, Environment and External Affairs, Shell International 1996-97. He is currently a member of the Executive Committee of the World Business Council for Sustainable Development and Chairman of the International Chamber of Commerce's UK governing body. He also sits at the European Roundtable of Industrialists[38]. Corporate Europe Observatory's briefing on the European Roundtable can be found at: www.xs4all.nl/~ceo More here.

Paul Skinner (Born: December 24, 1944). Managing Director of the Company and of the Group since January 1, 2000. Currently Chief Executive Officer, Oil Products. He joined the Group in chemicals in 1966, working in chemicals: sales and marketing in the UK, Greece and Nigeria. He moved to the oil products division in 1979, where he has held senior roles in the UK, New Zealand and Norway. Between 1991 and 1995 Skinner was responsible for Shell's oil trading business, and between 1995 and 1996 he was additionally responsible for the shipping business. He moved to be director of strategy and business services, Oil Products in 1996 a position he held until 1998. He was President, Shell Europe, Oil Products 1998-99. Outside of Shell he is currently a member of the Board of INSEAD: The European/Asian business school. More here.

Shell Transport and Trading, Non-Executive Directors


References

[30] Financial Times International Yearbooks, Oil and Gas 2000, Longman [31] Contact addresses from Financial and Operating Information 1996-2000, Royal Dutch/Shell Group of Companies [32] www.marketguide.com - Research - RD - Inst. Investors [33] www.marketguide.com - Research - RD - Inst. Investors [34] www.marketguide.com - Research - RD - Inst. Investors [35] www.shell.com/reports2000/rdEnglish/html/BoardParentbu.html [36] www.shell.com/reports2000/rdEnglish/html/BoardParentbu.html [37] Globe, The International Business magazine of shell Oil Products, Issue One, 2001 [38] www.ert.be/pc/enc_frame.htm

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