Bank of America’s ex-chairman Chad Holliday is about to become oil giant Shell’s chairman, according to a filing from the massive multinational Thursday morning.
Holliday is replacing Jorma Ollila, a Finn who was the first chairman from a country other than the Netherlands or Britain. Holliday will be the first American to hold the executive post when he is installed after Shell’s annual general meeting in 2015.
Holliday was chairman and chief exec at DuPont for a decade, ending his run in 2008. He currently sits on the the American Energy Innovation Council.
In 2010, Holliday became chairman of Bank of America, and was succeeded by Brian Moynihan earlier in 2014.
The announcement came with a set of robust third quarter results, with earnings of $US5.3 billion in comparison to $US4.2 billion for the same quarter in 2013.
Holliday will be stepping in at a tough time as Shell, like most other energy companies, will be dealing with the fallout of dropping oil prices over the last few months.