Malcolm Brinded recently stepped down as Chairman of the Board of Trustees with Maxime Verhagen(SF Trustee since June 2014) assuming this role, both on a temporary basis.
This change relates to legal action currently filed against Malcolm Brinded and Shell in Italy. Although this case is not connected in any way with SF’s work, and no judgement has yet passed, Malcolm has kept a Special Committee (comprising non-Shell Trustees, SF Director and legal advisors) up-to-date with proceedings. As of April 2017, Malcolm has volunteered to stand down as Chair for the duration of the investigation.
“I am proud of Shell Foundation’s work and the robust governance structure we have put in place to deliver its mission effectively. Given SF’s work covers energy access in Africa, I believe it is good practice for me to step down as Chair temporarily while this case is running.”
The Board fully support this decision. The Board of Trustees regularly reviews Shell Foundation’s governance structure and processes, with input from external advisers including PWC, and believe it is in line with international good practice. The Board (a mix of Shell and non-Shell trustees) take decisions collectively, our endowment ensures financial independence and we have developed business principles, protocols and transparent reporting mechanisms to ensure every Board and management decision maximises public benefit, with due care to protect independence from Shell.
In this context, the Board welcome Malcolm’s continued contribution as a Trustee of the Shell Foundation during this period, taking the view that his experience as Trustee and Chair, alongside his knowledge and commitment to the Foundation, will continue to be materially valuable in fulfilling our charitable goals.