Shell Plc is splitting up its global renewable power business as new Chief Executive Officer Wael Sawan puts his imprint on the energy giant.
The company will be splitting up its global renewable power business, which includes operations such as wind and solar within regional divisions of Shell Energy, a Bloomberg News report said on Thursday.
Shell is eliminating the global role of executive vice president for renewable generation held by Thomas Brostrom, who joined the company in 2021 from Danish renewables giant Orsted, a company spokesperson said.
Wind and solar power businesses will now fall under the regional heads of Shell Energy, reporting to Executive Vice President Steve Hill.
At the same time, Shell named Anna Mascolo as executive vice president for low carbon products and sectors, including biofuels, carbon capture and nature-based solutions.
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Hill and Mascolo report to Huibert Vigeveno, who heads the downstream and renewables division.
The changes to the renewables business come two months after Sawan announced plans to combine the oil and gas production and liquefied natural gas (LNG) divisions and place the renewables business in the downstream division.
Sawan has vowed to improve the company’s performance as it seeks to reduce greenhouse gas emissions in the coming decades. Shell reported a record profit of $40 billion last year.
The spokesperson said combining downstream and renewables in a single directorate strengthens the businesses by bringing together all the elements of low- and zero-carbon energy.
Brostrom will remain at the company as senior vice president for Shell Energy in Europe and Asia, overseeing all offshore wind globally, he said.
