Shell's CEO Ben van Beurden to step down next year, successors lined up
No exact date has been decided about van Beurden's departure, but so far four potential successors have been mentioned
FOX Business Flash top headlines for September 1
Check out what's clicking on FoxBusiness.com.
Shell's Chief Executive Ben van Beurden will be stepping down next year after leading the British multinational oil and gas company since 2014.
Shell has four candidates on a shortlist to replace him, sources told Reuters.
The candidates have been narrowed down to Wael Sawan, Shell's head of integrated gas and renewables and Huibert Vigeveno, who heads the company's refining operations of downstream.
Recently appointed Chief Financial Officer Sinead Gorman and Zoe Yujnovich, head of upstream, are also seen as possible successors.
OIL WORKERS SLAM BIDEN'S STUDENT LOAN HANDOUT: 'TRYING TO BUY VOTES'
Ben van Beurden, chief executive officer of Shell, speaks during the 26th World Gas Conference in Paris, France. (REUTERS/Benoit Tessier/File Photo / Reuters Photos)
The Dutchman, who joined Shell in 1983 and became CEO in January 2014, has yet to decide on an exact departure date.
During his tenure van Beurden oversaw Shell's biggest acquisition in decades, the purchase of rival BG Group for $53 billion in 2016.
DIESEL AND HEATING FUEL SUPPLIES DANGEROUSLY LOW
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SHEL | SHELL PLC | 73.13 | +0.36 | +0.49% |
Van Beurden has focused in recent months on Shell's historic headquarters relocation from The Hague to London at the start of 2022 as well as the energy crisis that has gripped the world in the wake of Russia's invasion of Ukraine in February.
Signage displaying fuel prices at a Shell gas station in San Francisco, California. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
CLICK HERE TO READ MORE ON FOX BUSINESS
Under his watch, in the wake of the coronavirus pandemic and the collapse in energy demand in early 2020, van Beurden and his board decided to cut Shell's dividend, the world's largest at the time at around $15 billion, for the first time since World War Two.
Reuters contributed to this report.