Shell CEO Ben van Beurden Sells £3.9 Million Of Shares
According to company filings, Shell CEO Ben van Beurden sold £3.9 million ($5.2 million) worth of the energy company’s shares on February 7.
Van Beurden’s 190,000 shares were sold at an average price of £20.40 per share, one day before they reached their highest level since January 2020 at £20.80. According to the company filing, the CEO’s sale totalled at £3.876 million. Van Beurden has led Shell since 2014.
Last Thursday, van Beurden said “I still believe that our shares are undervalued.” The comment by Shell’s CEO came after the energy company reported bumper profits of $19.3 billion in 2021, up from $4.8 billion a year earlier. The substantial hike was due to high global oil and gas prices.
“We delivered very strong financial performance […] and our financial strength and discipline underpin the transformation of our company,” van Beurden said following Shell’s announcement.
This Thursday, Shell shares traded at around £20.25 at 1035 GMT.
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