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Evening Standard
Evening Standard
Business
Oscar Williams-Grut

Wall Street activist Dan Loeb says Shell risks becoming ‘tarnished’ unless it heeds his break-up call

Dan Loeb Shell Third Point Oil Glencore Europe

A Shell logo at one of its petrol stations (Anna Gowthorpe/PA)

(Picture: PA Wire)

The Wall Street activist pushing for a break-up of Shell has raised his stake in the business and said the oil giant risks becoming a “tarnished legacy brand” without reform.

Third Point Investors, a hedge fund run by billionaire Dan Loeb, said in a quarterly investor update that it had “continued to add to our position in Shell” in the first few months of 2022 and held “constructive” talks with the company.

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