Summary
SIR Philip Watts, the embattled chairman of oil giant Shell, defiantly refused to resign yesterday despite apologising for his role in failing to explain last month's shock downgrade of the company's proven reserves.
Speaking as Shell reported fourth-quarter and full-year results for 2003, Watts said he had come to the decision to stay put after some heart searching. He added: "I have the will and the determination to see us through this difficult patch."See the full content of this document
Extract
Shell Chairman Rides Out Storm Over Reserves Downgrade
Watts has been slated by his critics for failing to attend a briefing to explain a shock re-categorisation of 20% of the Angl...
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