Shell Announces New Chief Executive

Shell Announces New Chief Executive

Ben van Beurden, director of the group's refining and marketing operations, will take top job.

LONDON -- Energy giant Royal Dutch Shell (IW1000/1) on Tuesday appointed Ben van Beurden, director of the group's refining and marketing operations, as chief executive to replace outgoing head Peter Voser.

"Peter Voser will leave Shell at the end of March 2014, marking the end of 29 years with the company."

Shell revealed earlier this year that Voser, 54, would retire in 2014 to spend more time with his family. The London-listed energy company made the surprise announcement of Voser's departure in May alongside a drop in first-quarter profits that was blamed on lower crude oil prices.

Dutch national Van Beurden, 55, has been Shell's downstream director since January 2013.

"Ben has deep knowledge of the industry and proven executive experience across a range of Shell businesses ," said Chairman Jorma Ollila.

"Ben will continue to drive and further develop the strategic agenda that we have set out, to generate competitive returns for our shareholders."

Van Beurden joined Shell in 1983 and has held various operational and commercial roles in upstream and downstream activities at Shell.

He has worked for Shell in the Netherlands, Africa, Malaysia and the United States, as well as Britain.

Voser, who has been chief executive since July 2009, will have worked a total of 29 years at the group during two spells.

Investors welcomed the appointment in early morning deals on the London stock market. Shell saw its 'A' share price jump 0.63% to 2,142.50 pence on the British capital's FTSE 100 index of top companies, which was 0.95% higher at 6,511.11 points.

Shell revealed earlier this year that Voser, 54, would retire in 2014 to spend more time with his family. The London-listed energy company made the surprise announcement of Voser's departure in May alongside a drop in first-quarter profits that was blamed on lower crude oil prices.

Copyright Agence France-Presse, 2013

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