Shell CEO to quit next year: Report – Times of India
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Shell has shortlisted candidates to succeed CEO Ben van Beurden, who is preparing to step down in 2023 after 40 years at the company, Reuters reported on Friday, citing two unidentified people from the company.
The 64-year-old has steered the company through some of its most turbulent times. The first big move of his tenure as CEO, which began in 2014, was the takeover of rival BG Group, a deal valued at close to $50 billion that tested the company’s finances during an oil price slump but is paying huge dividends today as natural gas prices soar.
At the outset of the pandemic, van Beurden made the first cut to Shell’s dividend since WWII, a move that upset investors and underscored the seriousness of the global health crisis for the oil and gas industry. He was also the architect of the company’s plan to shift from fossil fuels to cleaner sources of energy and achieve net-zero carbon emissions by 2050.
The 64-year-old has steered the company through some of its most turbulent times. The first big move of his tenure as CEO, which began in 2014, was the takeover of rival BG Group, a deal valued at close to $50 billion that tested the company’s finances during an oil price slump but is paying huge dividends today as natural gas prices soar.
At the outset of the pandemic, van Beurden made the first cut to Shell’s dividend since WWII, a move that upset investors and underscored the seriousness of the global health crisis for the oil and gas industry. He was also the architect of the company’s plan to shift from fossil fuels to cleaner sources of energy and achieve net-zero carbon emissions by 2050.
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