Posted by John Donovan: 2 November 2023
As the world gasps in the shadow of climate calamity, Shell CEO, Wael Sawan, has emerged from the shadows, not with a plan to save the planet, but with a scheme to shower shareholders with more silver. In a dazzling display of financial acrobatics, Shell is turning its back on the charm of ‘mega acquisitions’ to play a solo game of Monopoly with its windfall profits.
Sawan, with the finesse of a Vegas high-roller, has bet big on a ‘buyback bonanza’ to keep the cash registers ringing for those with stakes in the game, prioritizing a hefty $3.5 billion repurchase raffle ticket for the next quarter.