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Shell Canada Limited (TSX: SHC) is the subsidiary of Europe-based Royal Dutch Shell and one of Canada's largest integrated oil companies. Exploration and production of oil, natural gas and sulphur is a major part of its business, as well as the marketing of gasoline and related products through the company's approximately 1,800 stations across Canada. The corporation's head offices are in Calgary.
Additional recommended knowledge
Stock 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 . 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). . 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 .
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 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.
|This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Shell_Canada". A list of authors is available in Wikipedia.|