Shell confirms major restructuring

Royal Dutch Shell confirms a major restructuring

Oil giant Royal Dutch Shell has confirmed a major restructuring and boardroom overhaul in a move affecting about 24,000 staff.

There is expected to be an unspecified number of job cuts under the shake-up, which is being spearheaded by incoming chief executive Peter Voser.

The new boss, who takes over from outgoing chief executive Jeroen van der Veer on July 1, is merging two of its three "upstream" exploration subsidiaries, which employ 22,000 staff.

Shell is also "streamlining" its corporate affairs division, which is headquartered in The Hague, where it employs 2,000 staff.

Most of the changes will affect divisions headquartered outside the UK.

Shell has an upstream operation in Aberdeen, while it also has a London-based corporate affairs function in the UK.

The group's downstream arm - which covers non-exploration activities - is also headquartered out of the UK.

Details of the reorganisation follow news on Tuesday that Shell's liquid natural gas division head and board director Linda Cook was leaving.

Speculation of a restructure had mounted following her abrupt decision to quit after 29 years with the group.

It was disclosed that Mrs Cook's role was effectively being axed as Shell merges the upstream business to create two operations - Upstream Americas covering North and South America, and Upstream International covering the rest of the world.