Boynton loses out on Shell bonus
Judy Boynton, the former chief financial officer of Shell, has lost out on a £400,000 bonus, the oil company's annual report has revealed.
Boynton along with another sacked director Walter van de Vijver (who lost out on a £900,000 payout) and new chairman Jereon van der Veer (due £800,000) all lost out, according to its latest annual report, already delayed by months following the scandal over oil reserves.
Boynton was forced to step down in April. An independent report slammed her for taking ‘virtually no action’ to enquire into the basic facts relating to the oil giant’s ‘aggressive’ oil reserves bookings.
Sir Philip Watts, who was sacked in March, received a 13% pay rise from 2002, and was paid £843,000.
Shell has downgraded its oil reserves by more than four billion barrels, restating them on four occasions this year.
The report also contains details of a tighter reserves policy.