Are ‘green’ credentials the way forward for international oil companies’ management?
Author: Amanda Battersby
As international and national oil companies alike broaden their remit to encompass renewables and cleaner fuels, or spin off such greener entities, it will be interesting to see who is chosen to take the helm at the time of management succession. Malaysia’s national oil company Petronas recently launched clean energy solutions entity Gentari, but to date no management team has been unveiled, though Petronas’ chief executive Tengku Muhammad Taufik is Gentari’s chairman. Petronas said Gentari would be afforded the required independence to deliver clean energy solutions while seeking financing opportunities, but does that mean Gentari will have an independent management team and from where will they be appointed? Meanwhile, UK supermajor Shell last week confirmed the upcoming departure of chief executive Ben van Beurden and announced that the head of its gas and renewables business, Wael Sawan, would be taking over the reins. It will be interesting to see what future management direction other companies favour as they increasingly embrace the energy transition.