Shell's renewables boss to leave after CEO strategy shift - Reuters UK
Shell's renewables boss to leave after CEO strategy shift | Reuters
Shell's renewables boss to leave after CEO strategy shift
LONDON, June 30 (Reuters) - Shell's (SHEL.L) head of renewable generation Thomas Brostrom is leaving the company, a spokesperson said on Friday, weeks after CEO Wael Sawan scaled back its energy transition plans.
Brostrom joined Shell from offshore wind giant Orsted in August 2021 to head offshore wind as the company planned to rapidly grow its wind and solar operations as part of a strategy to cut greenhouse gas emissions under previous CEO Ben van Beurden.
Brostrom quickly became head of renewables in February 2022 after Elisabeth Brinton stepped down less than two years after taking the reins.
Chief Executive Sawan, who took office in January, announced on June 14 a shift back to oil and gas production while paring back investments in renewables following investor pressure to focus on the most profitable businesses.
Sawan also introduced a new structure to the company's top leadership that eliminated Brostrom's role and split it into regions.
"Thomas Brostrøm has elected to leave Shell to pursue an external opportunity," the company said.
He will be succeeded by Greg Joiner, currently VP Shell Energy Australia, as head Shell Energy Europe and Emerging Markets Power. Ajay Shah will lead renewable generation in Asia while Mike Parker will head offshore wind engineering.
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Related Knowledge Center: ENERGY BASICS: renewables
Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.