The Rising Influence of Rising Affluence

[DewDiligence]

Shell’s CEO, Peter Voser, will retire in 1H14; 1Q13 results are ok:

http://online.wsj.com/article/SB10001424127887324266904578458102757212608.html

Mr. Voser, 55, joined Shell in 1982 and took over as chief executive in 2009, when he quickly moved to restructure the company to cut costs. He consolidated divisions, cut 150 of the company's 750 senior executive positions and moved to eliminate about 5,000 jobs in his first year.

He also continued Shell's strategy of trying to dominate the world-wide natural-gas business—a decision that has seen Shell expand its gas capabilities at a time when U.S. prices plunged because of the boom in shale gas.

… Shell's operational performance has been solid under Mr. Voser, but investors haven't rewarded the company, in part because of its high capital expenditures, said Macquarie analyst Jason Gammel.

The announcement of Mr. Voser's retirement came as Shell beat analysts' expectations of a 4% rise in profit for its fiscal first quarter, largely because of improved profit margins in refining. Total oil and gas production increased very slightly to 3.56 million barrels of oil equivalent per day.

Voser’s retirement does not change Shell’s LT (2017-2018) goals set forth in #msg-84459871.