- Signs for push-out forces
- After almost eight years on the job
- Laud, praise, thanks and good wishes for Henry
- Jessica Uhl takes over
(management-change.com) — The Hague, Netherlands, December 15, 2016 — Simon Henry, finance chief of Shell, leaves. As announced by Royal Dutch Shell plc in a news release and in a regulatory filing published on Thursday, December 15, 2016, Simon Henry leaves the post as Chief Financial Officer at the oil and gas company in a surprising move after almost eight years on the job, effective March 09, 2017.
Simon Henry will remain on the Board as CFO until March 09, 2017 and sign the 2016 annual report, after which he will hand over his duties.
Henry’s duties are taken over by Jessica Uhl, currently Executive Vice President (EVP), Finance for the Integrated Gas business at Royal Dutch Shell plc.
No reason given
In the announcement, Shell did not explicitly explain the reason for Henry’s move, opening the door for speculation.
“Will conclude his service”
Shell said: “[A]fter more than seven years in the role, Simon Henry will conclude his service as Chief Financial Officer of the company.”
Precise information about the future plans of Henry was not immediately available.
Chaired by Charles Holliday
Royal Dutch Shell plc is chaired by Charles O. Holliday.
A US national, Holliday was appointed Chairman of the Company with effect from May 2015.
Ben van Beurden serves as CEO of Royal Dutch Shell plc. Ben van Beurden became Chief Executive Officer with effect from January 1, 2014.
On the job as CFO since 2009
Henry became Chief Financial Officer and an Executive Director in May 2009.
Henry joined Shell having graduated in Mathematics from Cambridge University in 1982, initially working as an engineer at the UK’s Stanlow refinery.
After qualifying as a member of the Chartered Institute of Management Accountants (CIMA) in 1989, he held various finance posts, including Finance Manager of Marketing in Egypt, Controller for the Upstream business in Egypt, Oil Products Finance Adviser for Asia Pacific, Finance Director for the Mekong Cluster and, up to the end of 2000, General Manager Finance for the South East Asian Retail business.
He was appointed Head of Group Investor Relations in 2001 and most recently served as Executive Vice President Finance for Exploration & Production from 2004 until his current appointment.
Henry is a member of the Main Committee of the 100 Group of UK FTSE CFOs, Chair of the European Round Table CFO Taskforce, and a member of the Advisory Board of the Centre for European Reform. He is also a fellow and Member of the Advisory Panel of CIMA, and has been a non-executive Director of the Lloyds Banking Group Board since June 2014.
Henry will remain available to Jessica Uhl and to the Board to assist with transition until June 30, 2017.
Signs for push-out forces
It is not completely certain what forces eventually triggered Simon Henry’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 47.2016 ($).