Royal Dutch Shell boss Peter Voser on Thursday
announced plans to step down in 2014, as the oil giant posted a small
increase in first quarter profits to 7.5 billion dollars.
Voser, who became chief executive in July 2009, said he wanted a
"change in lifestyle" and to spend more time with his family.
"After almost 10 years as chief executive and chief financial
officer and more than 25 years in Shell, I have elected to retire in
the first half of 2014," he wrote in a message to staff.
The 54-year-old Swiss national said Shell had paid out 11 billion
dollars to shareholders in the past year, more than any other company
in the industry.
The Anglo-Dutch company said it would consider internal and
external candidates to fill the position and aimed for an "orderly
transition."
"Peter's leadership of Shell over the last 4 years has been
impressive, reorganizing the company, delivering growth, and
developing a clear forward strategy with a strong portfolio of new
options," said chairman Jorma Ollila.
The company's first quarter profits, which posted a year-on-year
increase of 3 per cent, were better than predicted by analysts.
The profits came despite a recent drop in oil prices and a
"difficult security environment in Nigeria," Voser said.
Shell is developing 30 projects, while asset sales of 21 billion
dollars over the past three years meant the business could improve
its capital efficiency and attract strategic partners, he said.
