Royal Dutch Shell chief executive Peter Voser to retire

Royal Dutch Shell has announced that its chief executive will step down in the first half of 2014.

Peter Voser, 54, said he wanted to spend more time with his family and that he was leaving for a "change in lifestyle".

Mr Voser was appointed chief executive in July 2009 and has been an executive director since 2004.

The news came as Shell reported first quarter profits of $7.95bn (£5.1bn), up 3.5% from last year.

"After such an exciting executive career I feel it is time for a change in my lifestyle and I am looking forward to having more time available for my family and private life in the years to come," Voser said in a statement on Thursday.

A Shell spokeswoman said the company would seek internal and external candidates for his replacement.