Amazon Faces Class-Action Lawsuit Over Trump Tariff Price Hikes 
Japan Economy Beats Q1 Forecasts Despite Iran War Energy Shock 
Standard Chartered Appoints Manus Costello as New CFO Amid Leadership Reshuffle 
Global Companies Face $25 Billion Blow From U.S.-Israel Iran Conflict 
Tencent Shares Jump 4% as AI Models Move Toward Paid Commercial Services 
SpaceX IPO Nears as Goldman Sachs Set to Lead Historic $75 Billion Offering 
Dollar Slips as Bond Market Stabilizes Amid Iran Tensions and Fed Rate Hike Expectations 
Bessent Urges G7 to Strengthen Iran Sanctions Amid U.S.-China Talks 
Fed’s Anna Paulson Signals Rates Could Stay Higher Longer Amid Inflation Risks 
China to Buy 200 Boeing Jets, Push for Extended U.S. Trade Deal 
Stellantis CEO Antonio Filosa to Reveal Turnaround Strategy Focused on U.S. Sales and China Partnerships 
OpenAI Wins Elon Musk Lawsuit as Jury Rejects Claims Over AI Mission 
Nvidia Earnings in Focus as U.S. Stock Futures Hold Steady Amid Rising Treasury Yields 
Asian Markets Waver as Trump Delays Iran Strike, Oil Prices Retreat 
Blackstone and Google Launch AI Cloud Venture, Pressuring CoreWeave and Nebius Shares 
Asian Currencies Stay Rangebound as Dollar Holds Near Six-Week High Amid Iran War Concerns 
TSMC Stake Sale Sends Vanguard Semiconductor Shares Lower 
Shell Plc, the British multinational oil and gas company, headquartered in London, England, revealed that its chief executive officer, Ben van Beurden, has stepped down from his post. The company made the announcement on Thursday, Sept. 15.
With Van Beurden’s departure, Shell has already appointed someone to take over his role. The company chose its current director of integrated gas, renewables and energy solutions, Wael Sawan, to be its next chief. He is set to assume his new role in the firm on Jan. 1, 2023.
The oil giant said that the outgoing CEO has been leading the company for almost a decade now. Van Beurden will be officially leaving at the end of this year.
It was said that the news of his departure emerged not long after it was rumored that Shell has been on a search for a successor who will replace its chief. The speculations started earlier this month when two sources who are familiar with the matter said that the company’s board committee on succession had met up a number of times in recent months to prepare for Van Beurden’s departure. The group was also said to have interviewed potential replacement candidates as well.
Now, it has been officially confirmed that Sawan will be promoted and take over early next year. The incoming chief is a Lebanese-Canadian and a veteran in the business. He already has a career at Shell spanning 25 years today. He held a number of executive roles in the company before the ultimate promotion to CEO.
“Wael Sawan is an exceptional leader, with all the qualities needed to drive Shell safely and profitably through its next phase of transition and growth,” Sir Andrew Mackenzie, Shell Plc’s chairman, said in a press release. “His track record of commercial, operational and transformational success reflects not only his broad, deep experience and understanding of Shell and the energy sector but also his strategic clarity.”
He added, “Wael combines these qualities with a passion for people, which enables him to get the best from those around him. The outcome of the Board’s managed succession process resulted both in the appointment of an outstanding CEO and proved the strength and depth of Shell’s leadership talent. I look forward to working with Wael as we accelerate the delivery of our strategy.”
