Shell plc announces changes to the Executive Committee
23 January 2025 - 6:00PM
UK Regulatory
Shell plc announces changes to the Executive Committee
London, January 23, 2025 − Huibert
Vigeveno, Downstream, Renewables and Energy Solutions Director, and
a member of the Executive Committee since 1 January 2020, will step
down after 30 years of distinguished service, effective 31 March
2025, to pursue other opportunities.
Wael Sawan, Chief Executive Officer, said: “I am
grateful to Huibert for his outstanding contributions to Shell,
driving our customer value proposition across a range of businesses
and geographies, successfully leading the BG integration, and most
importantly, for leading the transformation in Downstream,
Renewables and Energy Solutions, through a disciplined focus on
performance, portfolio and people. Today’s performance is
testament to his leadership, and he leaves Downstream, Renewables
and Energy Solutions strongly positioned for the future. I
wish him well in his future endeavours.”
Andrew Smith will be appointed Director, Trading
and Supply, and Machteld de Haan will be appointed Director,
Downstream, Renewables and Energy Solutions, with both joining the
Executive Committee from 1 April 2025. In line with the Company’s
ongoing transformation, we will continue to evolve our structure to
enable our strategy to deliver more value with less emissions.
Notes to editors
- Andrew Smith
was appointed Executive Vice President, Trading and Supply in 2017.
Prior to his current role, Andrew was Vice President, Downstream in
Australia and subsequently became the Executive Vice President,
Upstream and Country Chair, leading the expansion of Shell’s Liquid
Natural Gas and Onshore Gas businesses in Australia. He joined
Shell in 1986 as a refinery engineer and has worked across all of
Shell’s integrated value chains including leading Shell’s
petrochemical manufacturing business in Singapore. Andrew holds a
Bachelor’s degree in Chemical Engineering from the University of
Melbourne. Andrew is an Australian citizen.
- Machteld de
Haan was appointed Executive Vice President, Chemicals and
Products in 2023. Prior to being appointed to lead Chemicals and
Products, Machteld was Senior Vice President, Lubricants Americas,
which included being the CEO of Pennzoil Quaker State Company, and
subsequently became Executive Vice President, Global Lubricants.
She joined Shell in 1998 and has had several geographically diverse
roles across the Downstream portfolio including Mobility, Strategy,
Fleet Solutions, Lubricants and most recently Chemicals and
Products. Machteld holds a Master’s degree in Business Economics
from Erasmus University, Rotterdam. Machteld is a Dutch
citizen.
- The changes
announced today do not affect Shell’s financial reporting segments,
which remain Integrated Gas, Upstream, Marketing, Chemicals and
Products, Renewables and Energy Solutions, and Corporate.
Enquiries
UK / International Media Relations: +44 20 7934 5550
Americas Media Relations: +1 832 337 4355
Asia Pacific Media Relations: apac-media@shell.com
Additional regulated information required to be disclosed under
the laws of the United Kingdom.
Cautionary Note
The companies in which Shell plc directly and indirectly owns
investments are separate legal entities. In this media release
“Shell”, “Shell Group” and “Group” are sometimes used for
convenience where references are made to Shell plc and its
subsidiaries in general. Likewise, the words “we”, “us” and “our”
are also used to refer to Shell plc and its subsidiaries in general
or to those who work for them. These terms are also used where no
useful purpose is served by identifying the particular entity or
entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell
companies” as used in this media release refer to entities over
which Shell plc either directly or indirectly has control. The
terms “joint venture”, “joint operations”, “joint arrangements”,
and “associates” may also be used to refer to a commercial
arrangement in which Shell has a direct or indirect ownership
interest with one or more parties. The term “Shell interest”
is used for convenience to indicate the direct and/or indirect
ownership interest held by Shell in an entity or unincorporated
joint arrangement, after exclusion of all third-party interest.
Forward-Looking Statements
This media release contains forward-looking statements (within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995) concerning the financial condition, results of operations and
businesses of Shell. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking
statements. Forward-looking statements are statements of future
expectations that are based on management’s current expectations
and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in
these statements. Forward-looking statements include, among other
things, statements concerning the potential exposure of Shell to
market risks and statements expressing management’s expectations,
beliefs, estimates, forecasts, projections and assumptions. These
forward-looking statements are identified by their use of terms and
phrases such as “aim”; “ambition”; ‘‘anticipate’’; ‘‘believe’’;
“commit”; “commitment”; ‘‘could’’; ‘‘estimate’’; ‘‘expect’’;
‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’;
‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’;
“schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; ‘‘will’’; “would” and
similar terms and phrases. There are a number of factors that could
affect the future operations of Shell and could cause those results
to differ materially from those expressed in the forward-looking
statements included in this media release, including (without
limitation): (a) price fluctuations in crude oil and natural gas;
(b) changes in demand for Shell’s products; (c) currency
fluctuations; (d) drilling and production results; (e) reserves
estimates; (f) loss of market share and industry competition; (g)
environmental and physical risks; (h) risks associated with the
identification of suitable potential acquisition properties and
targets, and successful negotiation and completion of such
transactions; (i) the risk of doing business in developing
countries and countries subject to international sanctions; (j)
legislative, judicial, fiscal and regulatory developments including
regulatory measures addressing climate change; (k) economic and
financial market conditions in various countries and regions; (l)
political risks, including the risks of expropriation and
renegotiation of the terms of contracts with governmental entities,
delays or advancements in the approval of projects and delays in
the reimbursement for shared costs; (m) risks associated with the
impact of pandemics, such as the COVID-19 (coronavirus) outbreak,
regional conflicts, such as the Russia-Ukraine war, and a
significant cyber security breach; and (n) changes in trading
conditions. No assurance is provided that future dividend payments
will match or exceed previous dividend payments. All
forward-looking statements contained in this media release are
expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. Readers should not place
undue reliance on forward-looking statements. Additional risk
factors that may affect future results are contained in Shell plc’s
Form 20-F for the year ended December 31, 2023 (available at
www.shell.com/investors/news-and-filings/sec-filings.html and
www.sec.gov). These risk factors also expressly qualify all
forward-looking statements contained in this media release and
should be considered by the reader. Each forward-looking
statement speaks only as of the date of this media release, 23
January 2025. Neither Shell plc nor any of its subsidiaries
undertake any obligation to publicly update or revise any
forward-looking statement as a result of new information, future
events or other information. In light of these risks, results could
differ materially from those stated, implied or inferred from the
forward-looking statements contained in this media release.
Shell’s Net Carbon Intensity
Also, in this media release we may refer to Shell’s “Net Carbon
Intensity” (NCI), which includes Shell’s carbon emissions from the
production of our energy products, our suppliers’ carbon emissions
in supplying energy for that production and our customers’ carbon
emissions associated with their use of the energy products we sell.
Shell’s NCI also includes the emissions associated with the
production and use of energy products produced by others which
Shell purchases for resale. Shell only controls its own emissions.
The use of the terms Shell’s “Net Carbon Intensity” or NCI is for
convenience only and not intended to suggest these emissions are
those of Shell plc or its subsidiaries.
Shell’s net-zero emissions target
Shell’s operating plan, outlook and budgets are forecasted for a
ten-year period and are updated every year. They reflect the
current economic environment and what we can reasonably expect to
see over the next ten years. Accordingly, they reflect our Scope 1,
Scope 2 and NCI targets over the next ten years. However, Shell’s
operating plans cannot reflect our 2050 net-zero emissions target,
as this target is currently outside our planning period. In the
future, as society moves towards net-zero emissions, we expect
Shell’s operating plans to reflect this movement. However, if
society is not net zero in 2050, as of today, there would be
significant risk that Shell may not meet this target.
Forward-Looking non-GAAP measures
This media release may contain certain forward-looking non-GAAP
measures such as cash capital expenditure and divestments. We are
unable to provide a reconciliation of these forward-looking
non-GAAP measures to the most comparable GAAP financial measures
because certain information needed to reconcile those non-GAAP
measures to the most comparable GAAP financial measures is
dependent on future events some of which are outside the control of
Shell, such as oil and gas prices, interest rates and exchange
rates. Moreover, estimating such GAAP measures with the required
precision necessary to provide a meaningful reconciliation is
extremely difficult and could not be accomplished without
unreasonable effort. Non-GAAP measures in respect of future periods
which cannot be reconciled to the most comparable GAAP financial
measure are calculated in a manner which is consistent with the
accounting policies applied in Shell plc’s consolidated financial
statements.
The contents of websites referred to in this media release do
not form part of this media release.
We may have used certain terms, such as resources, in this media
release that the United States Securities and Exchange Commission
(SEC) strictly prohibits us from including in our filings with the
SEC. Investors are urged to consider closely the disclosure
in our Form 20-F, File No 1-32575, available on the SEC website
www.sec.gov.
Shell (LSE:SHEL)
Historical Stock Chart
From Dec 2024 to Jan 2025
Shell (LSE:SHEL)
Historical Stock Chart
From Jan 2024 to Jan 2025