Dutch Volkskrant informs its readers that the huge ABP pension funds has prepared a policy note for other pension funds in which it discusses whether or not to agree with a proposal to appoint Groenink of ABN AMRO as a Commissioner for Shell next Tuseday. This is to be understood as a highly unusal event.
Apparantly the discussion between these institutional investors is a clear no against the appointment, with the discussion between these investors now mainly focused on the argument for the no-vote: a pragmatic reasons that Mr Groenink cannot be assumed to have sufficient time or a more specific statement about his lack of demonstrated managerial skills.
I think they'll go for the pragmatic approach in order not to be caught in a web of litigation (which might arise if they would choose for voicing their real opinion). Or.. what would be wisest.... Mr Groenink himself could choose this weekend to withdraw his candidacy for the post.
