Ex-Shell executives lose bonuses

Oil giant Shell said yesterday that none of the senior executives ousted in the wake of its reserves crisis would receive annual bonuses for 2003.

The annual reports of the Anglo-Dutch group reveal that former chairman Philip Watts was paid his annual salary of stg£865,000 last year.

But the Shell remuneration committee decided Mr Watts should miss out on an annual bonus typically worth the same as his yearly pay.