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Shell’s outgoing CEO to get full-year salary as compensation for loss of office

Reuters

Shell’s outgoing CEO to get full-year salary as compensation for loss of office

Fri, October 28, 2022 at 11:44 AM

(Reuters) – Shell’s outgoing Chief Executive Ben van Beurden will get one-year base salary of 1.42 million pounds ($1.64 million) as compensation after leaving the position at the end of the year, the oil giant said on Friday.

The payment will be done in six equal monthly instalments between July 1 and Dec. 31, 2023.

The company said the outstanding payment for loss of office will be halved if van Beurden gets a paid position, excluding non-executive directorships, during the payment period.

Shell also said the Dutchman will continue to receive his base salary until June 30, 2023.

The company last month picked Wael Sawan to replace van Beurden, who is stepping down after nearly a decade at the helm and 40 years at Shell. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

What every company should learn from Shell’s exemplary CEO succession strategy

FORTUNE

What every company should learn from Shell’s exemplary CEO succession strategy

Wed, October 5, 2022 at 4:59 PM

Global energy giant Shell recently announced that Wael Sawan, its head of integrated gas and renewables, would replace longtime CEO Ben van Beurden by the end of 2022. While important changes to the C-suite are rarely smooth sailing, Shell’s board seems to have followed the three essential characteristics of a successful succession: fast, thorough, and consistent.

In early September, Reuters reported that the board was actively working to name the next CEO upon the retirement of Van Beurden, who plans to step down in 2023 after 40 years with the company. Their sources said the board succession committee had narrowed the list down to a few candidates. Two weeks later, they confirmed the final choice. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell chief: governments may need to tax energy firms more to help the poor

The Guardian

Shell chief: governments may need to tax energy firms more to help the poor

Ben van Beurden also warns against EU moves to cap price of gas and electricity to protect consumers

Alex Lawson Energy correspondent: Tue 4 Oct 2022 12.35 BST: Last modified on Tue 4 Oct 2022 12.48 BST

The chief executive of Shell has said governments may need to tax energy companies further to fund efforts to protect the “poorest” people from soaring bills.

Ben van Beurden, the outgoing boss of the oil and gas company, told an energy conference in London: “One way or another there needs to be government intervention. Protecting the poorest, that probably may then mean that governments need to tax people in this room to pay for it.

“I think we just have to accept as a society – it can be done smartly and not so smartly. There is a discussion to be had about it but I think it’s inevitable.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s new boss Wael Sawan gets ready for some ups and downs

Shell’s new boss Wael Sawan gets ready for some ups and downs

By Jon Yeomans

Congratulations to Wael Sawan, the new boss of Shell, who will be taking over from Ben van Beurden next year. Sawan, a company lifer, will have to lead the oil giant through a treacherous period.

For starters, it is making an obscene amount of money while people worry about keeping the heating on. It also has to work out whether it really wants to be a leader in renewable energy.

But what do we know of Sawan? An impressive CV and a squeaky-clean page on LinkedIn. Sawan’s interests are listed as Harvard Business School, a couple of energy companies, and a furniture maker in Dubai.

Still, with BP boss Bernard Looney likening his company to a “cash machine”, Shell is wise to pick a dull CEO.

Delving a little deeper, though, it seems Sawan is a thoughtful chap. In a 2019 interview with Argentinian newspaper La Nacion, he said:'”Good people come and go. The institutions are those that remain. And if you believe in institutions you can create value.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s Chief Executive, Ben van Beurden, to Step Down

The New York Times

Shell’s Chief Executive, Ben van Beurden, to Step Down

Wael Sawan, who spent most of his career on the oil and gas side of Shell before moving recently to its liquefied natural gas and renewable energy unit, will take over Europe’s largest energy company.

: Sept. 15, 2022

Shell, Europe’s largest oil company, said on Thursday that Ben van Beurden, who has served as chief executive since 2014, would step down at the end of the year. He will be succeeded by Wael Sawan, who currently heads a unit that includes the company’s lucrative liquefied natural gas business and its investments in clean energy, including wind and solar power.

Mr. van Beurden, 64, whose departure was not a surprise, has steered Shell through a turbulent time and is leaving on a high note — at least for investors in oil and gas, who are seeing record profits and payouts. Consumers, on the other hand, are fuming about paying high prices at the pump and to heat their homes as energy costs have soared in the wake of Russia’s invasion of Ukraine. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

New Shell CEO Is a Smart Diplomat Who Faces Historic Challenges

Bloomberg

New Shell CEO Is a Smart Diplomat Who Faces Historic Challenges

(Bloomberg) — Shell Plc’s next CEO is seen as natural choice who will follow the course laid out by his predecessor — straight into a series of historic challenges.

Wael Sawan, the head of gas and renewables who will take Shell’s top job on Jan. 1, will have to make good on the company’s promise to cut greenhouse gas emissions without sacrificing profits from fossil fuels. He must also navigate the political fallout from a deepening energy crisis that has put the industry’s windfall profits in the cross-hairs of European governments. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s new CEO: Who is Wael Sawan?

Shell’s new CEO: Who is Wael Sawan?

: Finance Reporter, Yahoo Finance UK


Shell (SHEL.L) has tapped its head of gas and renewables as its new chief executive as Ben van Beurden departs after almost four decades at the FTSE 100 group.

Ben van Beurden will hand over the reins to the company’s Canadian director of integrated gas, renewables and energy solutions, Wael Sawan.

After resigning as chief executive at the end of this year, the Dutchman will continue to advise the board until next June.

A dual Lebanese-Canadian national born in Beirut, Sawan joined the company in 1997 and has previously run the company’s oil and gas projects in Qatar, its deepwater business from Houston and its upstream division. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell boss Ben van Beurden leaves two major legacies as successor is named

skynews

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.

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. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell CEO to step down as oil giant looks to climate goals

The Washington Post

Shell CEO to step down as oil giant looks to climate goals

By Associated Press: September 15, 2022 at 3:14 p.m. EDT

LONDON — Shell CEO Ben van Beurden is stepping down at the end of 2022 after nine years in charge, the energy giant said Thursday, a change that comes as oil and natural gas companies are under pressure to shift away from fossil fuels even as they see soaring profits from energy prices driven up by Russia’s war in Ukraine.

Taking over Jan. 1 is Wael Sawan, a Lebanese-Canadian who has worked for Shell for 25 years and is now director of integrated gas, renewables and energy solutions. The choice signals the focus of the London-based company to take what it calls a leading role in the energy transition despite facing criticism that it’s been slow to reduce climate-changing emissions. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Chief Executive Officer Ben van Beurden to step down, Wael Sawan appointed as his successor

Shell Chief Executive Officer Ben van Beurden to step down, Wael Sawan appointed as his successor

LONDON, September 15, 2022 — Shell plc (“Shell”) today announced that Ben van Beurden will step down as Chief Executive Officer (CEO) at the end of 2022, and that his successor will be Wael Sawan. Wael’s appointment is effective January 1, 2023*, when he will also join Shell’s Board of Directors. Ben van Beurden will continue working as adviser to the Board until June 30, 2023, after which he will leave the group. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s £80m boss Ben van Beurden preparing to join stream of FTSE100 bosses heading for the door

This is MONEY

Shell’s £80m boss Ben van Beurden preparing to join stream of FTSE100 bosses heading for the door

The £80million boss of Shell is preparing to join the stream of FTSE100 bosses heading for the door. 

Ben van Beurden – who, it emerged in March, bagged £4.6million in bonuses on top of his £1.4million salary last year, taking his total pay and bonuses to almost £80million during his nine years at the helm – could step down as soon as 2023 as the oil giant begins its search for a replacement. 

His departure will mark the end of an era for Shell, as it tries to toe the tricky line of boosting Britain’s energy security with embracing sustainable technologies. While Van Beurden’s legacy includes a commitment to reduce oil production, he has been criticised for failing to take more drastic action. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Breakingviews: Shell’s next boss looks a shoo-in

REUTERS

Breakingviews: Shell’s next boss looks a shoo-in

By : September 2, 2022: 2:40 PM GMT+1

LONDON, Sept 2 (Reuters Breakingviews) – Shell (SHEL.L) is about to get a new boss. Chief Executive Ben van Beurden, who has been in situ since the start of 2014, is likely to step down from the $192 billion oil giant next year, Reuters has reported read more . Plenty of credible candidates exist to replace him, but one looks the most obvious.

Despite battling with two major oil price slumps and an unprecedented 66% cut to Shell’s dividend in April 2020, Van Beurden’s track record looks acceptable. Since Jan. 1 2014, when he took over, Shell shares have returned 67%… He also pulled off the $70 billion purchase of BG Group in 2016, which made it a leading force in liquefied natural gas (LNG). read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell warns of ‘incredibly’ tight gas market, but ready to supply more LNG to Europe

S&P Global

PLATTS

Shell warns of ‘incredibly’ tight gas market, but ready to supply more LNG to Europe

HIGHLIGHTS

Warns of more volatility if Russia hit by sanctions

Calls on Europe to be ‘proactive’ on supply security

LNG cargoes likely to continue to come to Europe

Shell is prepared to do what it can to bring more LNG to Europe to help mitigate the impact of any potential sanctions on Russian energy, but warned of an “incredibly” tight market and called on Europe to be “proactive” in managing its gas supply security. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

LNG industry rebounds in 2021 amid supply constraints and volatile prices

LNG industry rebounds in 2021 amid supply constraints and volatile prices

Feb 21, 2022

The global trade in liquefied natural gas (LNG) increased 6% to 380 million tonnes during 2021 as many countries rebounded from the economic impact of the COVID-19 pandemic, according to Shell’s latest annual LNG Outlook published today.

Rising LNG demand, combined with supply constraints, caused gas and LNG prices to remain volatile throughout the year. Prices reached record levels in October 2021 as Europe, with historically low storage levels, struggled to secure LNG cargoes to meet expected winter gas demand. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell says one of the largest hydrogen electrolyzers in the world is now up and running in China

CNBC

Shell says one of the largest hydrogen electrolyzers in the world is now up and running in China

PUBLISHED FRI, JAN 28 20227:39 AM EST

Anmar Frangoul KEY POINTS
  • Located in Zhangjiakou, Hebei Province, China, the electrolyzer will produce green hydrogen for fuel cell vehicles during the Winter Olympics.
  • Wael Sawan, Shell’s integrated gas, renewable and energy solutions director, says electrolyzer is “the largest in our portfolio to date.”
  • While there is excitement in some quarters about green hydrogen’s potential, the vast majority of hydrogen generation is currently based on fossil fuels.

A 20 megawatt hydrogen electrolyzer described as “one of the world’s largest” has begun operations, energy major Shell said Friday.

Located in Zhangjiakou, Hebei Province, China, the electrolyzer will produce green hydrogen for fuel cell vehicles being used at Zhangjiakou’s competition zone during the Winter Olympics, which are due to open on Feb. 4. Once the Games finish, commercial and public transport will use the hydrogen. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Invests in the Whale Development in the Gulf of Mexico

(Information from WIKIMEDIA COMMONS: The above Shell logo image is in the public domain because its copyright has expired and its author is anonymous.)

CISION PR Newswire

Shell Invests in the Whale Development in the Gulf of Mexico

NEWS PROVIDED BY Shell Offshore Inc.  Jul 26, 2021, 08:00 ET

HOUSTONJuly 26, 2021 /PRNewswire/ —=&0=&Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, today announces the final investment decision (FID) for Whale, a deep-water development in the U.S. Gulf of Mexico that features a 99% replicated hull and an 80% replication of the topsides from our Vito project.

“Whale is the latest demonstration of our focus on simplification, replication and capital projects with shorter cycle times to drive greater value from our advantaged positions,” said Wael Sawan, Shell Upstream Director. “We are building on more than 40 years of deep-water expertise to deliver competitive projects that yield high-margin barrels so that we are able to meet the energy demands of today while generating the cash required to help fund the development of the energy of the future.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.