Shell appoints Wael Sawan to replace outgoing chief Ben van Beurden

theguardian.com:

Shell has appointed Wael Sawan, a 25-year company veteran, as successor to Ben van Beurden, the company’s long standing chief standing chief executive.

Sawan will replace Ben van Beurden, Shell’s boss for almost a decade, who will be stepping down at the end of this year. Reports of Van Beurden’s planned departure emerged earlier this month, and Sawan was considered frontrunner to take the top job.

As Shell’s current head of integrated gas and renewables division, Sawan oversees its push into into low-carbon energies as well as its giant gas business.

“It’s been a privilege to work alongside Ben and I’m honoured to take over the leadership of this great company from him,” Sawan said. “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.”

Sawan, born in Beirut with dual Lebanese and Canadian nationality, will officially take over as chief executive from 1 January at which point he will also join Shell’s board.

“The outcome of the board’s managed succession process resulted both in the appointment of an outstanding chief executive and proved the strength and depth of Shell’s leadership talent,” said Sir Andrew Mackenzie, chairman of Shell.

The 64-year-old Van Beurden, who has worked at Shell for almost four decades, will continue to work in an advisory role to the board until the end of June.

“Ben can look back with great pride on an extraordinary 39-year Shell career, culminating in nine years as an exceptional chief executive,” Mackenzie said. “He leaves a financially strong and profitable company with a robust balance sheet, very strong cash generation capability and a compelling set of options for growth.”

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