After 100 years of dual existence in London and The Hague, Royal Dutch/Shell’s steering committee has given the nod to unifying the company’s two boards. Investors have welcomed the news warmly, hoping that a new corporate structure will bring about better corporate governance.
Undoubtedly prompted by the reserves-booking fiasco earlier this year, the steering committee’s agreement is only preliminary and forms part of the company’s wider internal review, the outcome of which is expected in the autumn. It is also investigating a possible merger that would no doubt mean big changes for one of the world’s largest in-house law teams.
