- Shell Plc SHEL has appointed Wael Sawan, the company’s head of integrated gas and renewable energy, as his next manageras longtime CEO Ben van Beurden will step down.
- Mr van Beurden was already a 30-year Shell veteran when he was promoted to CEO in 2014.
- Related: Shell CEO to leave next year, four shortlisted successors.
- The company said Mr Sawan will take over the position on January 1, 2023, when van Beurden will step down after nine years in the role. He will continue to serve as an advisor to the Management Board until June 30, 2023, after which he will leave the company.
- Wael Sawan joined Shell in 1997. As CEO, Mr. Sawan inherits several challenges, writes the Wall Street Journal.
- Shell is also among several oil and gas companies facing US lawsuits over their alleged contributions to climate change. Oil companies deny liability in the cases.
- Another potential challenge for Mr. Sawan is dealing with activist investor Third Point LLC.
- Price promotion: SHEL shares are down 0.92% to $53.71 during the premarket session on the last check Thursday.
- Photo via company
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