Shell Names Gorman as CFO Following Strategic Shift to U.K.
(Bloomberg) -- Shell Plc appointed Sinead Gorman as chief financial officer as Jessica Uhl steps down after five years in the role.
Currently head of finance in Shell's global upstream business, Gorman takes over the CFO role following major strategic changes at the energy giant, including the simplification of its share structure and a relocation to the U.K. Uhl, who helped drive that shift, is leaving due to “family circumstances.”
British national Gorman “combines broad finance, trading, new business development and capital projects experience with a deep knowledge of Shell,” Chairman Andrew Mackenzie said in a statement. The 44-year-old has held finance roles in all of Shell's major businesses since joining in 1999.
The firm's top executives, including boss Ben van Beurden, moved to London after investors last year voted in favor of changing Shell's headquarters from the Netherlands in a corporate shake-up. The company said Tuesday that a long-term relocation to the U.K. was “not sustainable” for Uhl.
U.S. native Uhl, 54, joined Shell in 2004 and has held roles in London, Houston and The Hague across a number of units. She will step down on March 31 and assist Gorman with the transition until the end of June, when she will leave the company.
Shell shares slipped 0.4% to 1,964.2 pence at 8:55 a.m. in London on Tuesday, as the FTSE 100 Index held steady.
The management change comes as the company navigates a major upheaval amid the war in Ukraine. Shell announced late Monday it was leaving Russia after decades and would take impairments as a result. Its decision followed a similar move by BP Plc.
©2022 Bloomberg L.P.
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