BusinessCompany NewsBoynton steps down as Shell CFO

Boynton steps down as Shell CFO

Judy Boynton has stepped down from her role as Royal Dutch/Shell group chief financial officer, but will remain an employee of the troubled oil company.

Link: Shell CFO’s position under threat

Boynton is the third senior executive to step down from the oil giant following restatement of its oil reserves after an erroneous booking that resulted in the company, in January, cutting 3.9 billion barrels or 20%, from the reserves it claimed in US Securities and Exchange Commission filings.

She was one of the few female senior executives working in the FTSE100.

Chairman Jeroen van der Veer said: ‘The controls we now have in place will be rigorously enforced and will be subject to far greater levels of scrutiny within Shell. Despite the difficulties of recent months Shell is a sound and profitable business. We are making the changes to our reserves practices to ensure that that remains the case.’

The oil company has also further restated oil reserves, with an additional drop of half a million barrels. External experts will be involved in the annual audit and reporting of reserves in the future.

Tim Morrison has been appointed as acting group CFO with immediate effect.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor