BusinessCompany NewsBirthday payout for former Shell CFO

Birthday payout for former Shell CFO

Former Royal Dutch/Shell chief financial officer (CFO) Judy Boynton will receive a £1.5m severance package from the group just in time to celebrate her 50th birthday this week.

Link: Shell committed ‘unprecedented misconduct’

The Financial Times reports that Boynton, who resigned as CFO in April 2004 in the wake of Shell’s reserve reporting fiasco, will receive a $1m (£521,945) cash severance payment as well as a $984,225 (£523,879) lump sum pension entitlement.

It was also revealed that previously allotted shares priced at £550,000 would be released to Boynton as part of her leaving package. In addition to this stock, Boynton can exercise options on 140,000 shares valued at $81.30 (£43.27) and 70,000 shares quoted at $40.60 (£21.60).

Although Shell chairman Sir Philip Watts and exploration and production head Walter van de Vijver where sacked when the details of the inaccurate reserve reporting surfaced, Boynton was kept on as a projects adviser to CEO Jeroen van der Veer. She finally left the group on 31 December last year by mutual agreement.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

12m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

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

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor