Black Friday Sale! Save huge on InvestingProGet up to 60% off

Shell finance chief to leave company in March

Published 15/12/2016, 12:37
© Reuters.  Shell finance chief to leave company in March
BARC
-
SHEL
-
NG
-

By Karolin Schaps

LONDON (Reuters) - Royal Dutch Shell (L:RDSa) Chief Financial Officer Simon Henry will step down in March after seven years in the post and be replaced by Jessica Uhl, a finance executive in Shell's gas business.

Henry, a 55-year-old Shell veteran, was one of the executives who oversaw the $54 billion (43.27 billion pound) acquisition of BG Group, which completed in February, and the integration of the gas company which turned Shell into the world's largest liquefied natural gas (LNG) trader.

His successor, Jessica Uhl, will take over on March 9. She joined Shell in 2004 and has worked at Enron in the United States and Panama, and Citibank. Relatively unknown to the wider market, Shell said 48-year-old, U.S.-born Uhl was picked after a review of internal and external candidates.

"Jessica combines an external perspective with broad Shell experience and is a highly regarded executive," Shell Chief Executive Ben van Beurden said.

Henry did not disclose why he was leaving, nor what he would do next.

His departure was unlikely to change Shell's financial priorities in the wake of the BG deal, Barclays (LON:BARC) analyst Lydia Rainforth said.

Shell's London shares were 0.6 percent higher at 1200 GMT.

Uhl will be Shell's second female CFO. Judy Boynton served as finance director from 2001 to 2004 before leaving following Shell's admission it had overstated oil reserves.

Henry has worked at Shell for 34 years, including more than seven as CFO.

"With the BG deal done, the integration complete and Shell's strategy set it felt like a natural moment for Simon to go," said one senior source at the company, adding Henry's departure was his own decision.

"The board is grateful to Simon for strengthening capital management and the balance sheet such as to allow the acquisition of BG and executing that deal," Shell Chairman Charles Holliday said in a statement.

Shell said Henry would remain available to the company until June 30, 2017.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.