Woodside Says Still Focused on New Energy After Leadership Tweak

(Bloomberg) -- Woodside Energy says the gas producer remains focused on new energy such as hydrogen despite cutting a standalone role that oversees the division during a broader leadership restructure.

The new energy portfolio led by Shaun Gregory will be absorbed into a business that includes exploration, and merger and acquisitions, under a new executive vice president and chief commercial officer role from Aug. 1, according to a statement. That position will be filled by Mark Abbotsford.

The change elevates new energy to the center of Woodside’s business and “in no way diminishes” the focus on the portfolio, a spokesperson said.

Woodside’s new energy business includes solar, hydrogen and ammonia, offsets and carbon capture and storage. Other oil and gas producers have scaled back their green ambitions recently, including Shell Plc. The major made job cuts in its low-carbon solutions unit earlier this year and eliminated the global role of executive VP for renewable generation in 2023.

Gregory, the outgoing new energy head, will become an adviser to Woodside Chief Executive Officer Meg O’Neill.

©2024 Bloomberg L.P.