New Energy
Shell Renewables Head to Leave Amid Fossil Fuel Shift
- Thomas Brostrom to leave as Shell trims renewable ambitions
- Company strategy focuses on profits, not growing green power
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Shell Plc’s European renewable power boss Thomas Brostrom has decided to leave the company as the oil supermajor revises its strategy to focus more investment into fossil fuels.
The departure comes as Shell trims back its ambitions for renewable power to focus on the oil and natural gas that generate most of the firm’s profits. Chief Executive Officer Wael Sawan is targeting better shareholder returns and sent a message to the renewables business that cutting CO2 emissions needed to be paired with higher earnings.