Oil major Shell has made changes in its UK senior leadership as part of a global overhaul to cut costs and shift away from oil and gas to renewable power.
According to a Reuters article , UK head Sinead Lynch will become Shell’s global head of low-carbon fuels. It is worth noting that the changes were announced internally.
Lynch, who joined Shell company in 2016 following its acquisition of BG Group, will be replaced by David Bunch who currently runs Shell’s retail business across Europe and South Africa. Bunch joined Shell in 1997.
The changes will take effect in August when Shell rolls out project Reshape , the company’s biggest restructuring in decades as part of plans to reduce carbon emissions to net-zero by 2050 and build a large low-carbon and power business. Under the overhaul, Shell will cut 9,000 jobs or more than 10 per cent of its workforce.
Another management change includes Steve Phimister , head of Shell’s oil and gas operation in the North Sea since 2017, to be replaced by Simon Roddy – the current deputy managing director at Shell’s Nigerian onshore oil and gas joint venture Shell Petroleum Development Company of Nigeria. Reuters stated that Phimister’s new role in the company is yet to be announced.
Shell has gradually reduced its oil and gas operations and refining business in recent years but the UK remains an important market. The company stated last year that the North Sea would remain one of nine main oil and gas hubs.
Another Shell’s move towards renewables was its significant boost to the electric vehicle charging point network. In January the company agreed to acquire Ubitricity , UK’s largest public EV charging network with over 2,700 points.
Like Shell, its rivals BP and Total have also set out ambitious long-term plans to slash greenhouse gas emissions and build large renewable energy businesses.