LONDON, Jan 23 (Reuters) - Shell's head of
downstream and renewables Huibert Vigeveno will step down after
30 years with the energy major and be replaced by insider
Machteld de Haan, the company said on Thursday.
De Haan, who joined Shell in 1998 and has been executive
vice president of Shell's chemicals and products business since
2023, will take on the role on April 1.
Shell also said that head of trading Andrew Smith, who
previously reported directly to Vigeveno, will be appointed
director and join the executive committee alongside de Haan, in
a sign of the growing importance of oil, gas and power trading
under CEO Wael Sawan.
Shell is the world's largest energy trader. Sawan aims to
make trading a key engine of the company's energy transition
strategy as he pulls back from lower-return renewables assets.
Trading is, however, a volatile business that can deliver
huge profits and losses, depending on a company's positions and
market conditions.
Vigeveno had headed the refining and marketing division
since 2020. In 2023 Shell added its renewable operations to the
division. He was seen as a candidate to succeed CEO Ben van
Beurden, who left in 2020.
Shell has sharply scaled back its refining operations from a
peak of around 50 plants at the start of the millennium to nine
today due to weakening profit margins, high carbon emissions and
growing competition from new plants. It aims to further reduce
its interests in refining to five sites.
Last year it sold its refining and chemicals hub in
Singapore, one of the world's largest. It is also trying to sell
a stake in a German refinery and plans to shut down another
plant in Wesseling, Germany.