Shell Plc ’s new chief moved to overhaul the energy major’s core business units just a month after taking the helm. Shell will combine its integrated gas and upstream divisions, and merge its downstream and renewables units, it said Monday. It’s the second significant announcement in a week after Chief Executive Officer Wael Sawan launched a strategic review of the company’s struggling European home-energy retail unit. Sawan is under pressure to boost shareholder returns that have lagged those of key competitors. There’d been speculation that a shakeup was on the cards after activist investor Dan Loeb called on the company to break off its liquefied natural gas, renewables and marketing divisions into a standalone business. Shell’s cumulative total return has lagged several of its peers. Shell is now choosing to fold clean energy into the refining segment. It will also discontinue its strategy, sustainability and corporate relations directorate. Strategy and sustainability units will report directly to Chief Financial Officer Sinead Gorman. “Fewer interfaces mean greater cooperation, discipline and speed, enabling us to focus on strengthening performance across the businesses and generating strong returns for our investors,” Sawan said in a statement. “We’re changing to ensure we become a great […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
