Shell Names Refining Chief Van Beurden to Succeed CEO Voser

Royal Dutch Shell Plc unexpectedly named refining boss Ben van Beurden to succeed Chief Executive Officer Peter Voser as Europe’s largest oil company looks to manage rising capital spending.

Van Beurden, who will take over in the New Year, has led the company’s downstream unit, which refines crude and sells products to consumers, since January and was previously head of the chemicals business. When Voser announced his retirement in May, Chief Financial Officer Simon Henry and U.S. head Marvin Odum were seen as front runners for the top job.