BusinessCompany NewsShell could cut costs in accounting

Shell could cut costs in accounting

Oil giant poised for restructuring as new CEO prepares plan

Peter Voser

Shell, the oil giant, could be about to target accounting as a place to cut
costs as its new chief executive prepares to take over.

An unnamed source is reported in the Financial Times this morning
saying that both accounting and HR could see cut backs.

Peter Voser, the former finance chief and now CEO designate, is reported to
have been working on detailed plans for dealing with lower oil and gas prices.
Voser is due to take the reins on 1 July.

Yesterday the City was shocked to hear that Linda Cook, head of the power and
gas division and once considered a candidate for the CEO’s position, had left
the company. Her division is expected to be merged with another.

Shell suffered embarrassing headlines last week when investors voted down its
executive remuneration proposals.

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