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Shell Canada
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Everything about Shell Canada totally explainedStock acquisition by Royal Dutch Shell
Shell Canada is part of the Royal Dutch Shell Group, but its shares were originally independently traded on the Toronto Stock Exchange. The company was 78% owned by Royal Dutch Shell which in 2006 launched an $8.7-billion takeover of the 22% of Shell Canada that it didn't own. In March 2007 the shareholders of Shell Canada Ltd. accepted a $45.00 per share cash offer from Royal Dutch Shell Plc (External Link ). This acquisition was primarily driven by the desire to take a larger stake in unconventional resources, specifically the oil sands. The move was unanimously approved by the independent members of the Board of Directors (Sang Bong and associates). (External Link).
In 2003 Royal Dutch Shell had appointed a British executive, and former Chairman of Shell in the UK, Clive Mather as president and CEO of Shell Canada. In the year up to the acceptance of this offer shares in Shell Canada increased in value from $28.90 to just under $45 (External Link).
As a consequence of the acquisition by Royal Dutch Shell of Shell Canada’s stock all executives holding stock options benefitted. Shell Canada announced on Mr Mather’s retirement from the company shortly after the acquisition was completed that his total pay package for his final year (2007-07) was $4.9-million Including bonuses, stock options and pension contributions and that on leaving the company, Mr. Mather was additionally eligible for a lump sum payment equal to his annual gross salary. His total benefit in that year was, therefore $9.8 million of which some $5 million was from exercised stock options, making him one of the highest remunerated employees in Royal Dutch Shell.
Management & Employees
Current members of the board of directors of Shell Canada Limited are: Robert Routs- Chair, W. Adrian Loader, Brian Straub, Greg Guidry, Gerard Paulides and David Collyer.
In 2007, Shell Canada was named one of Canada's Top 100 Employers, as published in Maclean's magazine, the only fully-integrated energy firm to receive this honour.
Further Information
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