Shell CEO Ben van Beurden to step down

Oil and gas giant Shell revealed on Thursday that chief executive Ben van Beurden will step down from the role at the end of 2022 following a 39-year career with the group.

Shell stated that van Beurden will be succeeded by Wael Sawan on 1 January but will remain with the group until 30 June, acting as an advisor to the board, in order to ensure a smooth transition.

Chairman Andrew Mackenzie said: "Ben can look back with great pride on an extraordinary 39-year Shell career, culminating in nine years as an exceptional CEO.

"Wael Sawan is an exceptional leader, with all the qualities needed to drive Shell safely and profitably through its next phase of transition and growth. His track record of commercial, operational, and transformational success reflects not only his broad, deep experience and understanding of Shell and the energy sector, but also his strategic clarity."

Reporting by Iain Gilbert at Sharecast.com