Shell CEO Ben van Beurden will step down after nearly 10 years in the role, Reuters reports.
Two sources told the press that the company had shortlisted four candidates to replace Van Beurden.
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Wael Sawan, Shell’s head of integrated gas and renewable energy, is said to have been named to the list, along with Huiberto Vigeveno, head of downstream refining operations.
Chief Financial Officer Sinead Gorman and Upstream Head Zoe Yujnovich finalized the final choices for the CEO role.
According to Reuters, Shell’s board succession committee, led by chairman Andrew McKenzie, has met several times in the past few months to discuss Van Beurden’s plans to leave the company.
Mr van Beurden, along with Reckitt Benckiser CEO Laxman Narasimhan, will embark on an exodus of FTSE 100 CEOs through 2022, with the Shell boss becoming the 18th leader to jump so far in volatile market conditions. represent.
Russ Mould, investment director at AJ Bell, said: “Following the sudden resignation of Reckitt Benckiser CEO Laxman Narasimhan yesterday, Shell’s Ben van Beurden is preparing to resign. It appears that another FTSE 100 company is preparing for a change at the top.”
“There has been considerable volatility over that period, but ultimately Mr van Beurden has delivered a total return of 45.1% to shareholders since he took over in early 2014. That’s not too bad considering it included a collapse in oil prices and a global pandemic.”
“Whoever wins will have to balance the demands of environmental lobbies, governments and investors.” But if the company intends to achieve zero net profit, more difficult decisions lie ahead.
Shell declined to comment for this article at the time of writing.
