Photo Credit: Shell
Shell’s current CEO, Ben van Beurden, has stated that he will step aside in the latter part of the year. Beurden has been with the company as its CEO for about a decade. Instead, Wael Sawan, the current director of integrated gas, renewables, and energy solutions, will take over as CEO on January 1 of next year.
The announcement follows the emergence of suspicions about Shell’s plans to change its leadership. The announcement validates the change. The changes, however, will not be immediate since van Beurden, the present CEO, will remain in command of the firm for at least three months.
According to media reports, Shell’s Board Succession Committee has recently met to plan van Beurden’s graceful leave. According to sources, the group has also studied his potential replacement.
Shell’s new leader
Wael Sawan, who is set to become Shell’s new CEO next year, has worked with the firm for almost 25 years. The Lebanese-Canadian national has experience with commercial projects and downstream retail, having worked in divisions dedicated to such responsibilities.
“I’m looking forward to channeling the pioneering spirit and passion of our incredible people to rise to the immense challenges and grasp the opportunities presented by the energy transition,” said Sawan.
He also stated that it is an honor to be following van Beurden’s tremendous leadership and that he would try his best to lead the organization to greater heights.
“We will be disciplined and value-focused as we work with our customers and partners to deliver the reliable, affordable and cleaner energy the world needs,” he explained.
Shell under Beurden
Shell’s stock rose 0.7% recently, adding to the company’s 40% gain since the beginning of the year.
Van Beurden, now 64, has contributed significantly to the organization since joining in 1983. In 2014, he was named Chief. Prior to his executive position, he served as a director in many Shell areas, including refining and chemicals.
Under his tenure, Shell made the company’s largest acquisition in 2016, negotiating a $53 billion agreement with competitor BG Group. Moreover, despite the problems posed by the pandemic, van Beurden remained calm.
“It has been a privilege and an honor to have served Shell for nearly four decades and to lead the company for the past nine years,” stated van Beurden.
“I am very proud of what we have achieved together. I have great confidence in Wael as my successor. He is a smart, principled and dynamic leader, who I know will continue to serve Shell with conviction and dedication.”
According to Shell, van Beurden might continue to work for the firm as a Board advisor until June 2023. However, he will be completely out of the organization after that time.
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