Ben van Beurden

Ben van Beurden
Van Beurden in 2015
Born
Bernardus Cornelis Adriana Margriet van Beurden

(1958-04-23) 23 April 1958 (age 65)
Roosendaal, Netherlands
EducationDelft University of Technology
Years active1983–present
TitleFormer CEO, Royal Dutch Shell
Term2014–2022
PredecessorPeter Voser
SuccessorWael Sawan
SpouseStacey van Beurden
Children4

Bernardus Cornelis Adriana Margriet "Ben" van Beurden (born 23 April 1958) is a Dutch businessman who was the CEO of Shell plc from 2014 to 2022. He joined Shell in 1983, after earning a master's degree in chemical engineering from Delft University of Technology, Netherlands.[1]

During his tenure as head of Shell, the company was ordered by a Netherlands court to reduce its carbon emissions by 45% by 2030. Despite the scientific consensus on climate change, Van Beurden described the ruling as "unreasonable" and said the company had no intentions to meet the court-ordered climate targets.[2]

In early‑2022, ClientEarth began civil proceedings against van Beurden and 12 other directors of UK‑based Shell plc in an attempt to hold these individuals personally responsible for failing to adequately prepare the company for a transition to carbon neutrality. More specifically ClientEarth asserts that these individuals have a fiduciary duty under the UK Companies Act to operate in accordance with the 2015 Paris Agreement.[3]

Since January 2024, van Beurden has been a senior adviser at KKR, a US investment firm.[4]

Career

Van Beurden's career at Shell spanned both upstream and downstream businesses. He held a number of operational and commercial roles including those in Chemicals and LNG. Van Beurden worked for Shell in a number of countries, including his native Netherlands, Turkey, Malaysia, United Kingdom and the United States.[1][5]

Van Beurden was an assistant to Shell chairman Phil Watts from 2002 to 2004, during which time Shell was embroiled in an accounting scandal where it had overstated its oil reserves.[6]

He held the post of Vice President for Manufacturing Excellence from January 2005 to December 2006.[5][7] Van Beurden was the Executive Vice President Chemicals from December 2006 based out of London, during which time he served on the boards of a number of leading industry associations, including the International Council of Chemical Associations and the European Chemical Industry Council. He was the Director of Shell's Downstream business from January to September 2013.[1]

Lauded for his "deep knowledge of the industry and proven executive experience across a range of Shell businesses", Van Beurden is credited with turning around Shell's struggling chemicals division. From a loss-making enterprise in 2008, the Chemicals business now contributes 5 percent of net earnings.[8] He also worked for a third of his 30-year Shell career in its liquefied natural gas business, which has become a crucial driver of the group's growth.[9] Van Beurden repeatedly called to environmental issues for governments and corporations to tackle global energy consumption beyond supply chains.[10]

In 2014 Van Beurden became the chief executive officer of Shell.[11] In 2014, he was paid €24.2 million.[12] In 2018, Van Beurden's compensation was approximately £17.2 million.[13]

Van Beurden was scheduled to retire from Shell at the end of 2022.[11] In January 2023, Wael Sawan succeeded him as CEO.[14]

During his tenure as head of Shell, the company was ordered by a Netherlands court to reduce its carbon emissions by 45% by 2030. Van Beurden described the ruling as "unreasonable" and said the company had no intentions to meet the court-ordered climate targets. At the same time, Shell's profits were rising sharply, the company raised its dividend by almost 40%, and kickstarted share buybacks worth $2 billion.[2]

He is a member of the European Round Table of Industrialists (ERT),[15] and a board member of International Council of Chemicals Associations and the European Chemical Industry Council.[6]

Ben van Beurden received a pay package of £9.7m in 2022, up by over 50% from the previous year. The information was disclosed in the company's annual report and accounts. The pay hike came as Shell announced the highest annual profits in its 115-year history, at $39.9bn, doubling the previous year's total. The surge in energy prices following Russia's invasion of Ukraine was cited as the main reason for the record-breaking profit. The profits of energy companies have added pressure to tax them more as households struggle with rising energy bills.

van Beurden's pay package was criticized by human rights and environmental charity Global Witness, which called for a people-first windfall tax in the UK government's 2023 Spring Budget that includes executive bonuses. The UK Shareholders' Association also expressed concern that the pay package could bring the corporate world into disrepute.[16]

In November 2022, President of Kazakhstan Kassym-Jomart Tokayev awarded van Beurden the Order of Dostyk II degree for his contribution to the oil and gas industry.[4]

van Beurden joined Kohlberg Kravis Roberts (KKR) in January 2024 as a senior adviser.[17] He is advising on the firm's global climate strategy in its infrastructure investment unit on a part-time basis.[17]

Personal life

With his wife Stacey, he has three daughters and a son.[1]

References

  1. ^ a b c d "Ben van Beurden". Archived from the original on 21 December 2013. Retrieved 20 January 2015.
  2. ^ a b "Shell boss: we have no plans to change strategy despite emissions ruling". The Guardian. 29 July 2021. Retrieved 28 February 2022.
  3. ^ Gayle, Damien (15 March 2022). "Shell directors sued for 'failing to prepare company for net zero'". The Guardian. London, United Kingdom. ISSN 0261-3077. Retrieved 16 March 2022.
  4. ^ a b "Токаев наградил главу Shell орденом "Достық" II степени". kazlenta.kz. 9 November 2022.
  5. ^ a b "Featured Speaker: Ben van Beurden". World Bank. 2015. Archived from the original on 22 September 2020.
  6. ^ a b "Ben van Beurden is a Shell insider who made late rise to the top". Financial Times. London. 9 July 2013. Retrieved 28 February 2022.
  7. ^ "Board of Directors: Ben Van Beurden". Shell. Retrieved 20 January 2015.
  8. ^ "Shell's new CEO: an inside job". Financial Times. London. 9 July 2013. Retrieved 20 January 2015.
  9. ^ "Shell chooses Ben van Beurden as chief executive". Financial Times. London. 9 July 2013. Retrieved 20 January 2015.
  10. ^ Bousso, Ron (9 June 2021). "Shell to step up energy transition after landmark court ruling". Reuters. Retrieved 18 May 2022.
  11. ^ a b Bousso, Ron (2 September 2022). "Exclusive: Shell's CEO van Beurden prepares to step down next year". Reuters. Archived from the original on 2 September 2022.
  12. ^ Macalister, Terry (12 March 2015). "Shell CEO Ben van Beurden paid €24.2m in 2014". The Guardian. Retrieved 26 March 2015.
  13. ^ Jolly, Jasper (14 March 2019). "Shell CEO's pay more than doubles to £17.2m". The Guardian. Retrieved 7 May 2020.
  14. ^ Sweney, Mark (15 September 2022). "Shell appoints Wael Sawan to replace outgoing chief Ben van Beurden". The Guardian. Retrieved 15 September 2022.
  15. ^ Members European Round Table of Industrialists.
  16. ^ Espiner, Tom (9 March 2023). "Former Shell boss Ben van Beurden's pay package jumps to £9.7m". BBC News.
  17. ^ a b Ralph, Alex (17 April 2024). "Former Shell boss joins KKR to advise on green investments". ISSN 0140-0460. Retrieved 17 April 2024.
Business positions
Preceded by Chief Executive Officer of Royal Dutch Shell
2014–2022 		Succeeded by
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