UK-based LNG giant Shell has appointed two new directors after Huibert Vigeveno, downstream, renewables, and energy solutions director, decided to step down after 30 years with the company.
According to Shell, Vigeveno, who is also a member of Shell’s executive committee, will step down effective March 31, 2025, to pursue other opportunities.
“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,” Shell CEO Wael Sawan said.
Shell said that 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 April 1, 2025.
In line with the company’s ongoing transformation, Shell will “continue to evolve our structure to enable our strategy to deliver more value with less emissions.”
Also, 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, Shell said.
Earlier this month, Shell announced that it expects trading and optimization results for its integrated gas business in the fourth quarter of 2024 to be “significantly lower” compared to the previous quarter.
Shell’s integrated gas segment reported adjusted earnings of about $2.87 billion in the third quarter of 2024.
This compares to $2.53 billion in the same period in 2023 and $2.67 billion in the prior quarter.
Overall, Shell’s adjusted earnings reached $6.03 billion in the third quarter, down 3.1 compared to $6.22 billion in the comparable quarter last year, and down 4 percent compared to $6.29 billion in the prior quarter.