Shell PLC said Monday that it will reduce its executive committee from nine to seven members to further simplify the organization and improve performance.
The London-based energy giant
said that the integrated gas and upstream businesses will be combined to form an integrated gas and upstream directorate led by current Upstream Director Zoe Yujnovich. The downstream business will be combined with renewables and energy solutions to form a downstream and renewables directorate led by current Downstream Director Huibert Vigeveno.
The strategy, sustainability and corporate relations directorate will be discontinued and its Director Ed Daniels will step down. Strategy will be brought together with new business development and, alongside sustainability, report to Chief Financial Officer Sinead Gorman.
Chief Executive Wael Sawan said the changes will enable the company to focus on strengthening performance and generating stronger returns for investors.
The changes–expected to take effect on July 1–won’t affect the financial reporting segments, which will remain integrated gas, upstream, marketing, chemicals and products, renewables and energy solutions, and corporate, Shell said.
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