Shell shakes up executive committee

(Sharecast News) - Shell's head of integrated gas and upstream is to leave the company, it was confirmed on Tuesday, following a shake-up of the oil major's executive committee. Shell said that Zoe Yujnovich, who has been with the blue chip for more than a decade, will step down at the end of March.

Her role will then be split, with current vice president of liquified natural gas Cederic Cremers taking over as president of integrated gas, and Peter Costello becoming president of upstream. Costello is vice president of conventional oil and gas.

Both will join the executive committee as of 1 April.

Chief executive Wael Sawan said the overhaul was intended to simplify the leadership structure.

He said: "We have made significant progress in the last two years building stability with a track record of strong performance and active management while simplifying our business.

"Now is the right time to begin the next phase of our transformation. Going forward, we will delayer our most senior leadership structure to reflect the three primary eras of business value - integrated gas; upstream; and downstream, renewables and energy solutions - while also elevating trading and supply, a key enabler across the organisation."

He added that Yujnovich's "outstanding impact as a leader leaves a lasting legacy, and positions us strongly for the future.

"I wish Zoe success in all that lies ahead."

Yujnovich will leave the business following a transition period, Shell noted.

Shell has already named Andrew Smith as head of trading and supply and Machteld de Haan as president of downstream. They will also join the executive committee on 1 April.

Sawan, who launched a company-wide review in 2023, wants Shell to refocus on business segments with the highest returns.