Shell starts search for new chairman

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) reportedly has started a search for a new chairman, with current chairman Jorma Ollila set to step down next year.

Ollila is planning to step down because of corporate governance rules, and the timing of his departure has nothing to do with Shell’s recent financial difficulties, sources tell FT.

It is unclear whether a new chairman would be pulled from within Shell's ranks or outside as the company redefines its strategy under newly appointed CEO Ben van Beurden.