Shell to Reduce Size of Executive Committee to Improve Performance
January 30 2023 - 2:46AM
Dow Jones News
By Kyle Morris
Shell PLC said Monday that it will reduce its executive
committee from nine to seven members to further simplify the
organization and improve performance.
The London-based energy giant said that the integrated gas and
upstream businesses will be combined to form an integrated gas and
upstream directorate led by current Upstream Director Zoe
Yujnovich. The downstream business will be combined with renewables
and energy solutions to form a downstream and renewables
directorate led by current Downstream Director Huibert
Vigeveno.
The strategy, sustainability and corporate relations directorate
will be discontinued and its Director Ed Daniels will step down.
Strategy will be brought together with new business development
and, alongside sustainability, report to Chief Financial Officer
Sinead Gorman.
Chief Executive Wael Sawan said the changes will enable the
company to focus on strengthening performance and generating
stronger returns for investors.
The changes--expected to take effect on July 1--won't affect the
financial reporting segments, which will remain integrated gas,
upstream, marketing, chemicals and products, renewables and energy
solutions, and corporate, Shell said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
January 30, 2023 02:31 ET (07:31 GMT)
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