On June 17, 2004, Shell confirmed that the Review, first announced on March 5, 2004, included possible simplification of the management structures of the Boards and the Group; improvements to decision-making processes and accountability and enhancing effective leadership for the Group as a whole.
Membership of the Steering Committee is drawn from the Boards of the two parent companies, the Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, p.l.c. The Committee is assisted by a Working Group of senior Shell executives and external legal advisers, details of which were announced on June 17, 2004.
Since the Annual General Meetings of the Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, p.l.c., on June 28, 2004, Lord Kerr and his Steering Committee colleagues have been in discussions with major investors. These discussions continue. The selection of financial advisers enables the Steering Committee to deepen its analysis of key options.
Shell has indicated its intention to publish the results of the review of governance and structure in November 2004 in order to present resolutions to shareholders by its Annual General Meetings in April 2005.
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