In order to accelerate its transition to a more environmentally friendly future, Shell (SHEL. L) has chosen Wael Sawan to succeed Ben van Beurden as CEO. Sawan oversees the company’s gas and renewables businesses.
The goal is to move away from fossil fuels and cut emissions to net zero by 2050, even as Europe looks on traditional power to weather a worsening energy crisis.
Last year, Shell lost a landmark case against environmentalists when a Dutch court ordered it to reduce emissions more quickly. The company has since appealed the decision.
The task for van Beurden’s replacement will only become more essential as time goes on because he supervised Shell’s largest purchase in decades; guided the business through two significant downturns, and made a crucial decision to reduce greenhouse emissions.