Shell PLC (LSE:SHEL, NYSE:SHEL) has confirmed the departure of Ben van Beurden, ending a 39-year association with the Anglo-Dutch oil major, nine of them as its chief executive.
He will be replaced by Wael Sawan, who currently heads the company’s gas, renewables and energy solutions business. He has held a number of senior positions during his 25-year career with Shell and has been a member of the executive committee.
“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,” said Shell’s chairman, Andrew McKenzie. “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.”
The departure of van Beurden at the end of the year caps a remarkable career with the business that began in 1983.
In charge, he oversaw the US$53bn takeover of BG Group in 2016, and the relocation of the corporate headquarters from the Netherlands to London.
He has also steered the group through two oil market downturns and leaves a company posting record profits as crude prices have surged during the energy crisis.
His successor, Sawan, is a dual Lebanese-Canadian national who studied at Montreal’s McGill university.
Since joining the oil major, he has worked his way through the business to his current role having previously been head of the deepwater operation and vice president of Shell’s Qatar operation.
Sawan told investors: “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.”
The other internal candidates for the top job are thought to have been chief financial officer, Sinead Gorman, head of upstream, Zoe Yujnovich, and the boss of the company’s downstream refining operations, Huibert Vigeveno.