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Shell chooses renewables head as next CEO to lead green transition

Oil And Gas

CIO Bulletin
2022-09-15

Shell turned to its gas and renewables business boss to drive its transition to a greener future, choosing Wael Sawan to replace Ben van Beurden as the next CEO.

Sawan’s appointment arrives at a crucial time for the oil major, which is aiming to reduce emissions to net zero by 2050 and transitioning from fossil fuels even as Europe looks to traditional energy sources to survive a growing energy crisis.

Sawan, a 48-year-old Lebanese-Canadian, was seen as the front-runner to replace van Beurden, who is stepping down at the end of the year after nearly a decade at the helm and 40 years at the company.

During his tenure, the Dutch, van Beurden oversaw Shell’s largest acquisition in decades and steered the firm through two major downturns and a vital move to cut greenhouse emissions—a task that will only grow in importance for his successor.

Sawan previously headed Shell’s oil and gas production business and now oversees its growth in low carbon energies and its giant integrated gas business.

Credit Suisse analyst said Sawan was well known to investors and expected his appointment to have a limited impact on Shell’s strategy.

Sawan will begin his role as Shell CEO on January 1, 2023.