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Editor's letter - If you can't be sure of Shell ...
(From Financial Director)
Sir Philip Watts is no Robert Maxwell. Shell is no Mirror Group.
But the damage caused to shareholding pension funds by the share-price slump following the admission that oil reserves had been seriously overstated is, in aggregate, worse than the GBP400m plunder of the Mirror Group pension scheme. (The only saving grace is that the pain isn't all concentrated on just a few unfortunate victims.)
The lawyers' independent report into what went wrong at Shell makes for terrible reading. There are some tragi-comic revelations: the oil reserves internal auditor was a part-time individual who visited oil fields on a four-year cycle and, when he voiced a few concerns some years ago, feared for his job and decided not to press the point. This seems like a bizarre way for an internal auditor to behave and says more about the culture at Shell than we ever thought we knew.
As for the finance function, it turns out that, until recently, the business unit FDs had no reporting lines to Judy Boynton, the group ...
- Philip Watts goes the extra miles. (News).(creates new restaurant, 4550 Miles...
- Magazine article from: Design Week August 22, 2002 700+ words
PHILIP WATTS DESIGN has created a state-of-the-art Indian restaurant...same plush surroundings when choosing Indian eateries.' Philip Watts Design managing director Philip Watts says the consultancy has created a theme that eschews the...
- This time, sorry may not be enough; Face value.(Face value: The troubles of...
- Magazine article from: The Economist (US) January 31, 2004 700+ words
What, if anything, can Sir Philip Watts do to survive at Royal Dutch/Shell? A HOSTILE mob of investors will greet Sir Philip Watts, chairman of Royal Dutch/Shell...the lead-up to this was, yes, one Philip Watts.) Mr Herkstroter was also attacked...
- Sir Philip Watts Vindicated.
- Press release article from: PR Newswire November 9, 2005 700+ words
...including Mayer, Brown, Rowe & Maw LLP client Sir Philip Watts, the former Chairman of Shell's Committee of Managing...investigation, stated on behalf of his client that "Sir Philip Watts is very pleased that, after a long period of investigation...
- Why has Ex-Shell Boss Watts brought proceedings against the FSA who did not...
- News wire article from: Mondaq Business Briefing Donovan, Alfred July 26, 2005 700+ words
...have categorically named and blamed Sir Philip Watts for the Shell reserves debacle which...2004. In the programme the name of Sir Philip Watts was closely linked with what was described...shares plummeted and company chairman Sir Philip Watts was forced to resign in disgrace...
- Philip Watts Design has created a range of cast bronze street furniture, which...
- Magazine article from: Design Week June 3, 2004 700+ words
Philip Watts Design has created a range of cast bronze street furniture, which has been hand crafted for Nottingham's Arboretum. The designs...
- Philip Watts Design.(kitchen & bath)
- Magazine article from: Interior Design October 31, 2003 700+ words
The edgy bathroom designs by Philip Watts and company are produced in various metals, creating flowing organic forms that are extraordinarily eye-catching and often rather...
- Nottingham-based Philip Watts Design. (News).(firm's furniture designs...
- Magazine article from: Design Week June 13, 2002 700+ words
A range of cast bronze street furniture, designed by Nottingham-based Philip Watts Design, is being installed in The Arboretum, a listed public park in central Nottingham.
- Nottingham design group Philip Watts Design has created the identity and is...
- Magazine article from: Design Week January 29, 2004 700+ words
Nottingham design group Philip Watts Design has created the identity and is designing interiors for Nottingham eatery Sausage. Worth around 25 000 [pounds sterling] in design fees, the concept launches next month.