THE HAGUE, Netherlands, May 26 (UPI) -- Linda Cook, one of only two women on the board of directors at Royal Dutch Shell, plans to step down from her position, the company said Tuesday.
Cook, a 29-year veteran of the company who was turned down for the company's top job last October, is leaving by mutual agreement, the company said.
In October, Shell announced Chief Financial Officer Peter Voser would serve as the new chief executive officer. He is scheduled to replace Jeroen van der Veer who is retiring next month, The Financial Times reported.
By stepping aside, Cook, who has led the company's gas and power division since 2004, is giving up a $1.26 million loyalty bonus, which she would have received in 2011 had she stayed.
"She's leaving by mutual agreement and will be available to advise the company on strategic and management developments in the near term, ensuring an orderly succession in gas and power," the company said.