Reuters
Next Shell CEO likely internal hire – chairman
Tue May 20, 2008 11:49am EDT
LONDON, May 20 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile,Research) is likely to replace its current Chief Executive Jeroen van der Veer with an internal candidate when he retires next year, the oil major’s chairman said on Tuesday.
“An internal successor is most likely,” chairman Jorma Ollila told investors at Shell’s AGM.
However, the recruitment process, which will begin in the fourth quarter of this year, will also consider outside candidates.
Malcolm Brinded, head of Shell’s core exploration and production (E&P) unit, is tipped by many as a likely successor at the world’s second-largest non-government-controlled oil and gas company by market value.
The CEOs of Britain’s BP and France’s Total, ranked third and fourth in the industry, were also in charge of the E&P function before their appointments.
However, other commentators have tipped Linda Cook, head of Shell’s gas business. Cook took a more active role in the AGM than last year, answering questions on topics outside of her immediate remit, such as Shell’s plans for Iraq.
(Reporting by Tom Bergin, editing by Will Waterman)
© Thomson Reuters 2008 All rights reserved
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