Shell may restructure board

Oil giant Shell yesterday confirmed its twin board structure could be scrapped as it battles to restore confidence in the wake of its reserves crisis.

Shell said a unified board was one option being looked at by an internal review of the structure and overall governance of the group.

A timetable for possible changes was also announced by the company along with the make-up of a steering group set up to lead the review. Details come just 24 hours after Shell was criticised by two US investors for a lack of transparency.