Shell chief Ben van Beurden to step down

Shell has named Wael Sawan as its next chief executive, with the energy major's head of gas and renewables taking over from van Beurden who will step down at the end of the year after almost a decade in the top job. The announcement by Shell on Thursday ends months of speculation over who would succeed van Beurden at the FTSE 100 company. Big Oil chief executives rarely serve longer than 10 years and initial preparations for van Beurden's departure began shortly after the installation of Sir Andrew Mackenzie as chair in May last year, according to people familiar with the matter. Van Beurden, who has spent his entire 39-year career at Shell, will continue to advise the board until the end of June, when he will leave the company. "It has been a privilege and an honour to have served Shell for nearly four decades and to lead the company for the past nine years," van Beurden said.

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