Doomsday at Shell - Directors demoted, several sacked
Warri - Dutch Oil giant, Shell Petroleum Development Company, currently undergoing major restructuring, have demoted several of its directors and managers, while also given the boot to others.
The company under its new management, eliminated the directorship and managerial level position, company-wide, in what industry watchers agreed was one of the greatest organizational restructuring of all time, in the history of Nigeria.
The present crop of directors or managers were either downgraded as managers or sacked, with several others placed on notice for retirement as from April 1, 2008.
The positions of general managers for SPDC’s Eastern Operations in Port Harcourt, and Western Operations in Warri, were downgraded, and re-designated as Asset Manager (East) and Asset Manager (West), respectively.
Escalating security situation in the Niger Delta, has led to huge production cuts and significant revenue losses, thereby compelling the SPDC management to embark on aggresive measures described as “Recovery Actions” to operate with minimal costs.
News Source: http://www.punchontheweb.com/Articl.aspx?theartic=Art200801140261362
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