London: British energy giant Shell announced Thursday that chief executive Ben van Beurden will step down at the end of the year to be replaced by renewables director Wael Sawan.
Van Beurden, who will have been at the helm for nine years, will be succeeded by the head of integrated gas, renewables and energy solutions, Shell said in a statement.
The outgoing CEO “can look back with great pride on an extraordinary 39-year Shell career,” said chairman Andrew Mackenzie. “During the last decade, he has been in the vanguard for the transition of Shell to a net-zero emissions energy business by 2050.”
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”, Mackenzie added.
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