Shell break-up would not work in real life, says CFO

LONDON (Reuters) – Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday.

Activist hedge fund Third Point, which has built a large stake in Shell, on Wednesday called for the oil major to split into multiple companies to increase its performance and market value.

Shell Chief Executive Ben van Beurden told reporters that Shell’s strategy is coherent and well understood by a majority of its shareholders.

(Reporting by Shadia Nasralla; Editing by David Goodman)