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Shell boss Ben van Beurden leaves two major legacies as successor is named
Sky’s Ian King looks at the achievements Ben van Beurden will leave behind and the challenges ahead for his successor at a time of turmoil for the energy sector.
: Business presenter @iankingsky: Thursday 15 September 2022 11:41, UK
Ben van Beurden, whose departure as Shell chief executive at the end of the year was confirmed on Thursday morning, leaves at least two major legacies.
The first is the blockbuster £47bn takeover, announced in April 2015, of BG Group.
The deal attracted no end of criticism at the time. There was a lot of unease, at a time when oil and gas prices were depressed, about Shell’s ability to sustain its dividend payments – which then accounted for £1 in every £9 of dividends paid by UK companies. The company was accused of over-paying for BG.