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.
Since 2014, outgoing boss Ben van Beurden has steered the company through two oil price crashes, strengthened its balance sheet, relocated the headquarters to London and pledged to slash emissions by gradually shifting from hydrocarbons to cleaner forms of energy.
Shell has stressed that 48-year-old Sawan, who joined the executive committee in 2019, was closely involved in the development of that strategy and will focus on delivering rather than overhauling van Beurden’s plan. “Ben’s legacy will frame Shell’s success for decades to come,” chair Sir Andrew MacKenzie said when announcing the appointment on Thursday.