Shell’s change of guard ‘could signal an increased focus on renewables’

Shell has announced that CEO Ben van Beurden will step down at the end of 2022 and be replaced by Wael Sawan, who is currently director for integrated gas, renewables and energy solutions at the oil and gas giant. According to Sophie Lund-Yates, lead equity analyst at investment platform Hargreaves Lansdown, the appointment of Wael Sawan could result in updates to Shell’s renewables agenda: “For a group whose renewable strategy has been somewhat vague, though grand sounding, this is a clear marker that Shell intends to change this. Change won’t happen overnight, but it’s reasonable to think that at least tweaks to the existing renewable strategy could be on the cards.” Van Beurden has worked at Shell for 39 years, the last nine as CEO.