Shell Oil Company announced today that John D. Hofmeister will retire as president effective June 1, 2008, and that Marvin E. Odum, currently executive vice president for the Americas for Shell Exploration and Production, will succeed Mr. Hofmeister, while keeping his current operational role.
Hofmeister joined Shell in 1997 as director of Human Resources for the Shell Group, based in The Hague. He returned to the United States when he was named president of Houston-based Shell Oil Company on March 1, 2005. In addition to his leadership at Shell, Mr. Hofmeister is chairman of the National Urban League and former chairman of the Greater Houston Partnership, one of the largest economic development organizations in the country.
“My voice will still be heard on issues that mean very much to me,” said Hofmeister, 60. “I will continue to play an active role in helping our country find new solutions to our energy needs. I will also continue my civic work with the Urban League and Greater Houston Partnership, but with more time and capacity to make a difference. I have had a great career with Shell. It is time that I move beyond Shell to pursue important personal and business endeavors. I leave knowing that, in Marvin, there is strong leadership in place.” During his tenure as president, Mr. Hofmeister steered the company through the aftermath of Hurricanes Rita and Katrina, which not only impacted thousands of employees and their families, but also threatened the U.S. energy supply. Mr. Hofmeister also contributed greatly to helping the public understand the energy industry, launching a National Dialogue on Energy Security amid public frustration over rising gasoline prices. Odum commented on his new role. “It is a privilege to be appointed president of Shell Oil Company at a time when energy and environment are of critical importance to the American people. There is a lot of hard work ahead to deliver more affordable energy by finding and developing new resources, and making a responsible contribution to efforts to mitigate climate change. I look forward to leading the company during this important time. John Hofmeister served Shell Oil Company and the industry with great leadership. During his tenure as president, he helped to put a human face on the industry. I join all Shell employees in wishing John and Karen a very happy retirement.” Odum, 49, is Executive Vice President for the Americas for Shell Exploration & Production. In this role, he has responsibility for Shell exploration and production businesses in the western hemisphere. He joined Shell as an engineer in 1982 and has held a range of management positions in technical and commercial operations. Odum assumed his present position in May 2005. In his prior assignment, Odum was Chief Executive Officer of InterGen, a global power generation company. He also served as Shell Gas and Power Director for the Americas. Odum holds a Bachelor of Science degree in Mechanical Engineering from the University of Texas and a Master of Business Administration from the University of Houston. He is a member of the Dean’s Council of Harvard Kennedy School, a member of the University of Texas College of Engineering Advisory Board, and serves on the Board of Directors of the Palmer Drug Abuse Program. Odum also serves on the American Petroleum Institute (API) Board of Directors and is Chairman of the API Upstream Committee. He is also on the University Cancer Foundation Board of Visitors for M. D. Anderson Cancer Center. Odum is married and has three children. Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America's leading oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Shell, a leading oil and gas producer in the deepwater Gulf of Mexico, is a recognized pioneer in oil and gas exploration and production technology. Shell Oil Company is an affiliate of the Shell Group, a global group of energy and petrochemical companies, employing approximately 108,000 people and operating in more than 130 countries and territories.
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Disclaimer statement
This announcement contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this Report, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, project delay or advancement, approvals and cost estimates; and (m) changes in trading conditions. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this presentation, May 4, 2006. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.
The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as “oil in place" that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575 and disclosure in our Forms 6-K file No, 1-32575, available on the SEC website  <em>www.sec.gov</em>. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.
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