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Shell Overhauls Executive Team, Integrated Gas and Upstream Director to Leave

Shell has restructured its executive team as part of a broader effort to simplify its leadership structure, with the departure of long-time Director of Integrated Gas and Upstream Zoe Yujnovich. The changes aim to reflect the company's three primary business areas: Integrated Gas, Upstream, and Downstream, Renewables and Energy Solutions. This shift is part of Shell's strategy to increase agility and focus on high-return activities.

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Shell Mulls Sale of European, US Chemicals Assets, WSJ Reports Δ1.78

Shell is considering a potential sale of its chemicals assets in Europe and the United States, as it aims to simplify its operations and focus on its core businesses. The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, which are expected to be significantly impacted by lower seasonal demand. Shell's trading in its chemicals and oil products division is expected to decline quarter-on-quarter due to reduced seasonal demand.

Shell Exploring Sale of Chemicals Assets in US, Europe, WSJ Says Δ1.77

Shell is considering the sale of its chemicals assets in the US and Europe as part of a strategy to refocus on more profitable operations. The move aims to diversify Shell's portfolio and increase returns for shareholders. This decision could have significant implications for the energy sector.

Shell Mulls Sale of European, US Chemicals Assets, WSJ Reports Δ1.76

The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said. Shell declined to comment. Morgan Stanley did not immediately respond to a request for comment outside regular business hours. The review is in its early stages and Shell has not yet made any definitive decisions regarding a potential sale, the Journal reported, adding that one of the assets included in the review was Shell's Deer Park facility in Texas. Last year Shell sold its refining and chemicals hub in Singapore, one of the world's largest.

Elliott Takes REINS on Phillips 66's Governance Structure Δ1.73

Elliott Investment Management has nominated seven new directors for Phillips 66's board of directors, a move that could lead to significant changes in the company's governance structure and operational strategy. The activist investment firm has previously targeted this oil refiner, investing $2.5 billion and pushing for strategic improvements, including spinning off or selling its midstream business. These efforts have largely been unsuccessful, but Elliott is now returning with a more aggressive slate of nominees.

Stocks Making the Biggest Moves Pre-Market: Tesla, Southwest Airlines, Coinbase, Capri and More Δ1.72

Tesla's stock price is surging after a strong earnings report, with some analysts predicting that the company's electric vehicle sales will continue to drive growth. The company's focus on sustainable energy solutions has also been credited with its success in navigating the challenges of the rapidly changing automotive industry. As a result, investors are optimistic about Tesla's prospects for long-term growth.

Business News Roundup Faces Financial Dilemmas, Regulatory Challenges, and Competitive Pressures Δ1.72

Consumer Reports has released its list of the 10 best new cars to buy in 2025, highlighting vehicles with strong road test scores and safety features. The announcement comes as Eli Lilly & Co. is expanding its distribution of weight-loss drug Zepbound at lower prices, while Target is scaling back its DEI efforts amidst declining store visits. Meanwhile, Costco's luxury goods segment continues to grow, and Apple has secured President Trump's backing for its new investment plan.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire. Δ1.72

Albertsons has appointed Susan Morris, its chief operations officer since 2018, to take over the top role following the retirement of CEO Vivek Sankaran. The move aims to shift focus towards building digital sales and retail media business, a strategy that aligns with Morris's background in driving operational efficiency. As part of her new role, Morris will also oversee the execution of "Customers for Life" strategy, which seeks to retain customers through loyalty offerings and personalized digital experience.

Oil Executives Experience Doubts Amid Trump’s Leadership Δ1.71

Energy executives gathering for CERAWeek in Houston are grappling with the complexities of President Donald Trump's policies, which have sparked both hope and uncertainty within the fossil fuel sector. While Trump's administration has lifted certain restrictions and promised increased production, the economic instability caused by his tariffs and sanctions has led to declining oil prices and potential disruptions in investment strategies. As the industry faces a challenging landscape, the conference is expected to reflect a mix of enthusiasm for regulatory support and anxiety over the unpredictable economic climate.

Mastec Beats Expectations as Clean Energy and Infrastructure Projects Drive Growth Δ1.71

MasTec's Q4 earnings and revenues beat estimates, driven by strong bookings of Clean Energy and Infrastructure projects, resulting in a nearly 2% increase in revenues year over year. The company delivered margin expansion that exceeded expectations, supported by strong execution. MasTec's diversified business model is expected to drive its performance in 2025 and beyond.

Germany Not in Talks Over Nord Stream 2 Gas Pipeline Revival. Δ1.71

Germany has reaffirmed its commitment to energy independence from Russia and is not engaged in discussions regarding the revival of the Nord Stream 2 gas pipeline, which remains partially damaged. The German Economy Ministry emphasized the strategic importance of diversifying energy sources, particularly after the upheavals caused by the Ukraine conflict, with Norway now serving as the primary gas supplier. Estonia and other Baltic nations have echoed this sentiment, advocating for a definitive end to reliance on Russian energy infrastructure.

Industry Giants Enter S&P 500 Δ1.71

DoorDash Inc., Williams-Sonoma Inc., TKO Group Holdings Inc., and Expand Energy Corp. are set to join the S&P 500 index, adding a diverse range of sectors including food delivery, home accessories, sports entertainment, and energy. The additions mark a significant shift in the composition of the US equity benchmark, with implications for the companies' profiles and investors' portfolios. The companies will replace four other firms on the index prior to trading resuming on March 24.

Vanguard Resumes Stewardship Meetings After Reviewing SEC Guidance Δ1.71

Vanguard has resumed its stewardship meetings with portfolio companies after reviewing new guidance from the U.S. Securities and Exchange Commission, which could require more disclosures from fund firms when pressuring companies over ESG matters. The move follows a similar step by rival BlackRock last month, as both companies take stock of materials posted by the SEC to clarify their communications. Vanguard's strategy aims to underscore the passive design of its funds and ensure that companies understand its investment focus.

BlackRock’s ‘Woke’ Era Is Over Δ1.71

BlackRock has officially withdrawn from climate groups and eliminated diversity targets, signaling a significant shift away from its previous commitments to environmental, social, and corporate governance (ESG) initiatives. This retreat comes amidst increasing pressure from conservative critics and legal risks, reflecting a broader trend among major corporations to distance themselves from "woke" policies in response to political backlash. Despite these changes, BlackRock has continued to report strong financial results, suggesting that the company may be prioritizing profitability over its earlier ESG commitments.

Kroger Outs Long-Time Ceo After Probe Into Personal Conduct Δ1.71

Kroger has ousted long-time CEO Rodney McMullen after a board investigation found that his personal conduct was "inconsistent" with certain company policies, marking a surprise move that comes as the company grapples with the aftermath of its abandoned Albertsons merger. The ouster raises concerns about Kroger's leadership stability and ability to navigate complex operations. The sudden change may have implications for investors and employees alike.

Kroger CEO Ousted in Stunning Shake-Up--What Really Happened Behind Closed Doors? Δ1.70

Kroger's sudden leadership change has sent shockwaves through the retail industry, leaving investors to wonder about the true reasons behind Rodney McMullen's resignation. The company maintains that the issue was unrelated to financial performance or operations, but its seriousness prompted a violation of ethics policies. As Kroger navigates this transition, it must also address ongoing legal disputes and the lingering impact of its failed merger attempt.

Pertamina Pledges To Improve Transparency Following Corruption Allegations. Δ1.70

Indonesia's state-owned energy company Pertamina has publicly apologized and pledged to improve its governance after five executives at its units were arrested over alleged corruption involving oil imports. The Attorney General's Office last week arrested the executives on charges of alleged corruption related to oil imports between 2018 and 2023 that caused $12 billion in state losses. Pertamina CEO Simon Aloysius Mantiri vowed to fix loopholes found by the AGO to prevent future negative impacts on the company or state budget.

Goldman Sachs Names Dubner as COO Global M&A Memo Δ1.70

Goldman Sachs has strengthened its leadership in global mergers and acquisitions by appointing David Dubner as chief operating officer of global mergers and acquisitions. As part of his new role, Dubner will leverage his extensive experience at the firm to develop and execute strategies for growth in the market-leading franchise. The appointment aims to bolster the firm's position in the industry, where it has consistently topped M&A league tables.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire Δ1.70

Albertsons has announced the retirement of CEO Vivek Sankaran, with Susan Morris, the current COO, set to take over the role on May 1. This leadership transition follows the supermarket chain's recent challenges, including a failed merger with Kroger, and marks a strategic shift towards enhancing digital sales and retail media initiatives. As Morris steps into the CEO position, she will also be responsible for executing the company's "Customers for Life" strategy aimed at improving customer retention through loyalty programs and personalized experiences.

Elliott Nominates 7 Directors at Phillips 66, Ratchets Up Pressure Δ1.70

Elliott Investment Management has nominated seven directors to the board of Phillips 66, aiming to instigate significant changes, including potential divestitures of its midstream business. The activist firm, which holds a $2.5 billion stake in the company, is pushing for improvements in corporate governance and refinery operations amidst a backdrop of declining stock prices. This latest move follows Elliott's previous engagement with Phillips 66, highlighting a persistent push for strategic enhancements within the company.

CERAWEEK Top Oil Executives Reckon with Downturn Even as Trump Cheers Them On Δ1.69

The energy industry is facing a perfect storm of declining oil prices, rising costs, and regulatory uncertainty, forcing companies to slash thousands of jobs and cut investment. Oil majors are grappling with mass layoffs and activist investor pressure to transform their performance. The industry's reset will be front and center at the CERAWeek conference, where executives and policymakers will discuss the future of energy policy.

Exclusive: General Catalyst Loses Three Top Investors as the Firm Expands Beyond Venture. Δ1.69

General Catalyst has experienced a significant shift in its leadership as three prominent investors depart amid the firm's transition to an "investment and transformation company." The departures of Deep Nishar, Kyle Doherty, and Adam Valkin come alongside the firm's strategic changes, including a merger with La Famiglia and an acquisition of Venture Highway, reflecting a broader evolution in its operational model. These changes, including a shift in compensation structures favoring cash bonuses, may signal an attempt to adapt to new market dynamics and investor expectations.

Kroger Chairman and CEO Resigns Amid Investigation Into Personal Conduct Δ1.69

Kroger Chairman and CEO Rodney McMullen has resigned following an internal investigation into his personal conduct. Kroger, the nation's largest grocery chain, said Monday that the investigation into McMullen's personal conduct was unrelated to the business, but was found to be inconsistent with its business ethics policy. Board member Ronald Sargent will serve as chairman and interim CEO, effective immediately. Sargent has been on Kroger's board since 2006 and has served as the lead director of the company since 2017.

Fracking Klare Absage Im Bundeskabinett Δ1.69

Barbara Hendricks, designated German Environmental Minister of the Social Democratic Party (SPD), has made it clear that fracking is off the table in Germany due to environmental concerns. The SPD politician stated that the party's coalition agreement had included a commitment to not allow fracking as long as it only uses chemicals. This move can be seen as a significant shift in the country's energy policy, putting Germany at odds with other major economies.

Wells Fargo Drops Financed Emissions Target Amid Esg Rethink Δ1.69

Wells Fargo is scrapping its goal of achieving net-zero emissions across its financed portfolio by 2050 as banks rethink their sustainable lending activities. The bank's decision to abandon this goal comes at a time when political sentiment in Washington has shifted, with President Donald Trump withdrawing from the Paris Agreement and severing international partnerships on climate. As a result, financial heavyweights such as BlackRock are re-evaluating their environmental commitments.

Kroger Chairman and CEO Resigns Following Investigation Into Personal Conduct. Δ1.69

Kroger's internal investigation into Rodney McMullen's personal conduct has led to his resignation as chairman and CEO, a move that highlights the growing importance of corporate governance and ethics in the retail industry. The investigation, conducted by an outside independent counsel, found that McMullen's behavior was inconsistent with Kroger's business ethics policy but not related to its financial performance or operations. As a result, Board member Ronald Sargent will serve as chairman and interim CEO until a permanent replacement is appointed.