Royal Dutch Shell (RSDA) has chosen Ben van Beurden, a 30-year Shell veteran who heads up the company's downstream operations, to succeed Peter Voser as chief executive officer in a surprise move.
The decision comes two months after the highly regarded Mr Voser shocked the financial world by announcing he will retire early next year, citing a desire for a "change in lifestyle". Investors and analysts had expected his successor to come from Shell's exploration and production - or upstream - division, or alternatively the chief financial officer position, held by Simon Henry, as that is traditionally where leaders of major oil companies are promoted from.
Mr van Beurden, a 55-year-old Dutch national, is also little known by market participants as he only became Shell's downstream director in January 2013. Before that, he worked in a range of downstream positions, including head of the chemicals division for five years.
Shell's decision is not unprecedented, however. Jeroen van der Veer, Mr Voser's predecessor, also came from the downstream side of the business.
