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New Shell chief vows to stop the rot

FINANCIAL TIMES

Ben van Beurden’s message was clear: Royal Dutch Shell has to change.

In his first public outing as chief executive of the Anglo-Dutch oil major, he did not stint on the self-criticism. Shell, he said, had “lost momentum”. It had “not always made the right capital choices”. It had got “ahead of [itself]” in places like the Arctic. Its returns were now “too low to be considered competitive”.

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