Shell CEO Ben van Beurden to step down at year’s end

LONDON (AP) — Energy giant Shell says its CEO, Ben van Beurden, is stepping down at the end of the year after nine years in charge, and will be replaced by Wael Sawan. Sawan, who has worked for Shell for 25 years, is currently the director of integrated gas, renewables and energy solutions, and has been a member of Shell’s executive committee for three years. Sawan was born in Beirut and holds dual Lebanese and Canadian nationality. In late July, Shell posted record profits for a second straight quarter as it benefited from soaring prices of oil and natural gas fueled by Russia’s war in Ukraine.