Shell CFO ousted over oil estimates

Boynton, a US citizen, the first woman to reach top board level at Shell and a rare executive 8216;8216;import8217;8217;, was the third major casualty of the debacle, which has wiped billions of pounds off the group8217;s market value. Chairman Phil Watts and oil and gas Chief Walter van de Vijver were pushed out in March. Details of an independent review released on Monday showed the sacked executives knowingly hid the reserves problem from investors for years, and feared the game was up.

8216;8216;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,8217;8217; Chairman Jeroen van der Veer said in Monday8217;s statement.8212;Reuters