Shell picks Wael Sawan as new CEO after Ben van Beurden decides to step down. Details here

Ben van Beurden, the CEO of oil giant Shell, said on Thursday that he would leave his position at the end of the year after serving for over ten years. On January 1, Wael Sawan, who now serves as Shell's director of integrated gas, renewable energy, and energy solutions, will take over as the company's next CEO.

The information confirms rumours that Shell has been actively seeking a replacement for van Beurden as CEO.

Shell's board succession committee met many times in recent months to develop plans for van Beurden's exit and interview potential successors, according to a Reuters article from the beginning of September that cited two anonymous individuals.


It is now certain that Sawan will take over.

Sawan, a dual citizen of Lebanon and Canada, has worked with Shell for 25 years, holding positions in downstream retail and numerous commercial ventures.

During early morning trading in London, shares of Shell increased 0.7 per cent. Year to date, the stock price has increased by more than 40 per cent.

Van Beurden, 64, started working for Shell in 1983 and was appointed director of the company's chemicals and refining division before being named CEO in 2014.



The departing CEO oversaw Shell's $53 billion acquisition of rival BG Group in 2016, which was the company's largest acquisition in decades. He also led the company through a historic decline in energy demand caused by the coronavirus pandemic and increased investor pressure to reduce the company's greenhouse gas emissions.

Van Beurden will remain with Shell as a board advisor through June 30 of next year, at which point he will leave the organisation, according to Shell.

Frequently Asked Questions

When will Sawan take over as the CEO of Shell?

Wael Sawan will step in as the CEO of Shell from January 1st of next year.

What would Shell's future look like once Sawan takes over as the CEO?

The choice of Sawan as the new CEO underscores the industry-wide and long-term shift in Shell's goals. The business has promised to switch from using oil to using natural gas, hydrogen, wind, and solar energy. According to Sawan, this change presents the organisation with a number of opportunities as well as obstacles.