Royal Dutch/Shell Ousts 2 Top Executives
Royal Dutch/Shell Group sacked its two top executives, responding to pressure from angry shareholders in the wake of news in January that they had overestimated oil and gas reserves.
Chairman Phil Watts and the head of the company’s core oil and gas division, Walter van de Vijver, will leave immediately, the company said.
Many analysts had believed the worst of the pressure on Watts had passed, and few had expected him to go before his scheduled retirement in June 2005. Some had seen Van de Vijver as his successor, rather than a likely fellow casualty.
From Reuters
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