Financial Times: Shell executives paid no bonuses in 2003

By Adrian Michaels

Published: May 28 2004  

Royal Dutch/Shell, the embattled oil company, on Thursday said it had paid no bonuses to senior executives last year, seeking to reassure investors after months of turmoil and resignations as it published its annual report.

The report, which was publised two months later than usual, also contained expanded information on Shell's controversial oil and gas reserves. Reserves were separated out geographically by continent for the first time and there was a fuller explanation of reserve accounting policies.

The managing chairman vowed this week that the company would try to shed its reputation for arrogance and bullying and re-examine executive pay.