Shell Appoints Wael Sawan As Successor To Longtime CEO, Ben van Beurden

Shell Plc SHEL has named Wael Sawan, the company's head of integrated gas and renewables, as its next chief executive, as longtime CEO Ben van Beurden will step down.
Mr. van Beurden was already a 30-year veteran of Shell when he was promoted to CEO in 2014.
Related: Shell's CEO To Exit Next Year, Four Succession Candidates Shortlisted.
The company said Mr. Sawan would assume the position on January 1, 2023, when van Beurden would step down after nine years in the role. He will continue working as an adviser to the board until June 30, 2023, after which he will leave the company.
Wael Sawan joined Shell in 1997. In taking over as CEO, Mr. Sawan inherits several challenges, writes Wall Street Journal.
Shell is also among several oil-and-gas companies that face U.S. court cases over their alleged contributions to climate change. Oil companies have denied liability in the cases.
Another potential challenge for Mr. Sawan is dealing with activist investor Third Point LLC.
Price Action: SHEL shares are down 0.92% at $53.71 during the premarket session on the last check Thursday.
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