Sep 16, 2022
Wael Sawan, Shell lifer taking helm to steer through energy transition
When Wael Sawan takes the helm at Shell in January, the new chief executive will inherit a company in rude financial health but still facing existential questions about its future. "I think you're going to see a level of ruthlessness with Wael that we've not seen before with Ben, and I think that's going to be a good thing," said one former Shell colleague who worked with Sawan for more than 20 years. While Shell is generating record profits - $11.5bn in the last quarter - challenging decisions lie ahead. In 2020 Shell was the first of the supermajors to commit to reduce greenhouse gas emissions to net zero by 2050 but has since struggled to retain talent in the low-carbon businesses that are central to its transition strategy. With Shell already having launched its transition strategy, Sawan was very unlikely to attempt anything close to that level of change, analysts said. Sawan on Thursday said he looked forward to channelling Shell's "Pioneering spirit" to "Grasp the opportunities" presented by the energy transition.
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