Shell CEO Ben van Beurden is set to resign after almost a decade in the position, according to Reuters.
Two sources close to the matter apparently told the news organisation van Beurden had shortlisted four potential candidates to replace him in the leadership role.
Shell head of integrated gas and renewables Wael Sawan is said to have made the list, along with head of downstream refining operations Huibert Vigeveno.
Chief financial officer Sinead Gorman and upstream head Zoe Yujnovich round out the final options for the CEO role.
Reuters said Shell’s board succession committee led by Chairman Andrew Mackenzie had met several times over the last few months to discuss plans for van Beurden’s leave from the company.
Van Beurden joins Reckitt Benckiser CEO Laxman Narasimhan in the exodus of FTSE 100 CEOs over 2022, with the Shell boss representing the 18th leader to jump ship so far in the volatile market environment.
“After yesterday’s surprise departure of Reckitt Benckiser chief executive Laxman Narasimhan, it looks as if another FTSE 100 company is poised for a change at the top as Shell’s Ben van Beurden is reportedly preparing to step down,” said AJ Bell investment director Russ Mould.
“While there has been considerable volatility in the interim, ultimately since van Beurden took over at the beginning of 2014 he has delivered a total return to shareholders of 45.1%. Given this period encompassed an oil price crash very early in his tenure and a global pandemic, this is not too shabby.”
“Whoever prevails will have to balance the demands of the environmental lobby, governments and investors. At least van Beurden spared them the decision of cutting the dividend, a step taken for the first time since the Second World War in 2020. However, there will be more hard decisions to come if the company is going to live up to its net zero rhetoric.”
Shell declined to comment on the article at the time of writing.