Executive Summary

This study uses a deductive and qualitative research approach to explore if transformational leadership and transformational change influence the energy transition. It utilizes two research methods (survey and comparative case analysis). The survey uses an established quantitative tool for assessing transformational leadership, the MLQ5X questionnaire that has been applied in various industries. The comparative case studies are developed using two qualitative tools - content analysis that utilized different leadership frameworks and executive interviews to explore the hypotheses qualitatively. The chosen case companies are Ørsted, TotalEnergies, and Shell - selected as representing companies who can be argued as seeing the energy transition as a transformational change.

The result of the MLQ5X survey revealed those leaders in the energy transition exhibit more transformational leadership than any other form of leadership. In addition, statistical analysis is consistent with previous MLQ5X studies. It showed that transformational leadership and the energy transition are positively correlated, significant, and fully supported with a perfect fit in the multi-regression model. Results of the content analysis of leaders' speeches, interviews, and other documentations showed that each leadership style springs from different components of emotional intelligence – they have mastered switching between leadership styles as their business environment continually changes to achieve optimum performance and results. In addition, they have demonstrated the multi-dimensional behavior of transformational leadership. The Senior Executives confirmed that the energy transition is a transformation change and their narratives align with the attributes of transformational leadership and transformational change covered in the literature.

The study concludes that the oil and gas companies' leaders (studied) see what is happening as a transformation, not a transition. It is not entirely surprising, given the companies selected, but the study underpins this with rigorous application of established models that seek to understand the difference between the two. An opportunity for further research would be a complementary study of companies perceived as taking a more transitional approach.