Business Context and Reporting Period
This Form 6-K filing by Royal Dutch Shell plc, dated October 18, 2017, reports a material change in the Company's Directorate. The filing is submitted pursuant to Rule 13a-16 under the Securities Exchange Act of 1934.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
Directorate Change: Guy Elliott has stood down as a Non-executive Director of the Company with immediate effect. The resignation is related to his involvement in legal proceedings regarding his former employment at Rio Tinto.
Remuneration: In accordance with Section 430 (2B) of the Companies Act 2006, Mr. Elliott will receive his annual base fee of £135,000, plus additional fees for committee memberships (£17,250 for the Corporate and Social Responsibility Committee and £12,000 for the Nomination and Succession Committee) on a pro-rata basis up to his resignation date. No other remuneration or payment for loss of office will be made.
Management Commentary and Risks
Charles Holliday, Chair of Royal Dutch Shell plc, stated that the Company respects Mr. Elliott's decision and appreciates his seven years of contribution. The Chair expressed hope that Mr. Elliott satisfactorily resolves the legal proceedings and noted that he would be considered for rejoining the Board if that occurs. The filing identifies the legal proceedings regarding Mr. Elliott's former employment as the primary contingency driving this change.
Key Facts for Investor Verification
- Confirmation of Guy Elliott's immediate resignation as Non-executive Director.
- Details of the legal proceedings involving Mr. Elliott and his former employer, Rio Tinto.
- Verification of the pro-rata remuneration calculation for Mr. Elliott's tenure.
- Any potential impact on Board composition or committee structures following the resignation.