Shell (LON: RDSa) is trading down 1.61% at 22.67
Shell (LON: RDSa)’s head of renewable energies Elisabeth Brinton has stepped down less than two years after taking the reins of the business which the company seeks to rapidly grow as part of its strategy to reduce greenhouse gas emissions.
Brinton, who joined Shell in 2018, said in a LinkedIn post that she was leaving Shell for a new role, but not with a competitor. She became head of renewables and energy solutions in April 2020, replacing Shell veteran Mark Gainsborough.
A Shell spokesperson on Friday confirmed her departure.
Following Brinton’s departure, starting Feb.1, Shell will create two new positions in the renewable leadership, the company said.
Thomas Brostrøm, currently senior vice president for renewables, will be appointed head of renewable generation.
Steve Hill, currently executive vice president for Shell Energy, will be appointed head of energy marketing. Both roles will report to Wael Sawan, head of integrated gas and energy solutions.
Shell has rapidly expanded its renewables projects under Brinton. Earlier this month, it was awarded together with partners a number of offshore wind licenses in the British North Sea with a capacity of around 5 gigawatts. It has also made a number of solar acquisitions in recent months.
On technical fronts Shell (LON: RDSa) RSI stood at 63.97 and currently stock is trading above all MA. So, the BUY position can be taken with the following target and stop loss:
TRADE SIGNAL -: Shell (LON: RDSa) – BUY: 22.67, TARGET: 22.87, STOP LOSS: 22.49
