Energy giant Shell said yesterday it had already started the search for departing chief executive Peter Voser’s successor.
The news came as Mr Voser faced what was likely to be his last annual meeting at Shell after he said he would step down in the first half of next year.
The 54-year-old has been in the role fewer than five years, but made the surprise announcement earlier this month.
Shell chairman Jorma Ollila, who will choose the next CEO alongside two non-executive directors, said the process had already started.
Although Shell has said it will look both within and outside the business for Mr Voser’s successor, the company traditionally favours internal appointments when choosing its top executives.
Finance director Simon Henry is regarded as a potential front-runner with Marvin Odum, the company’s head of upstream operations in the Americas. If Mr Odum is appointed, he will be Shell’s first American chief executive.
Mr Voser declared his intention to step down “for a change in my lifestyle” at the same time as Shell unveiled pre-tax profits of £8.5billion in the first quarter of the year.
Swiss-born Mr Voser, appointed CEO in 2009, has been an executive director with the company since 2004.
He had previously spent 25 years with Shell, having joined in 1982 after graduating in business administration from the University of Applied Sciences, in Zurich.
Because the retirement was a personal decision, he will not receive a severance package.
Mr Voser was paid more than £4.2million in 2012, including a £1.3million salary and bonus of £2.8million. His pension pot at the end of last year stood at £12.5million.
All Shell’s resolutions, including its remuneration report, were approved by shareholders at yesterday’s meeting in The Hague.
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