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BP falls as new boss trims executive team

Published 18/04/2024, 11:57
© Reuters.  BP falls as new boss trims executive team

Proactive Investors - BP PLC (LON:BP) has announced its board of directors will be cut from 11 positions to 10 as part of a wider management reshuffle to simplify the business.

“We need to deliver as a simpler, more focused and higher value company,” chief executive Murray Auchincloss commented.

“These changes will help us do just that, reducing complexity within BP, allowing our team to focus on delivering our priorities and growing the value of BP.”

Corporate and solutions head William Lin will lead BP’s gas and low-carbon division under the move, as the former is integrated into its businesses and functions wing.

He will replace Anja-Isabel Dotzenrath, who is retiring as head of the low-carbon division.

Leigh-Ann Russell will be replaced by Emeka Emembolu as head of BP’s technology division in the meantime.

"I congratulate William on his new role and am delighted to welcome Emeka to the leadership team," Auchincloss added.

"William brings extensive experience, expertise, and leadership [...] he has a proven track record of delivery, managing complex relationships and deals.

"Emeka has been chief of staff for the past two years and in a 25-year BP career has held senior technical roles right across the business."

Shares fell 1.6% to 508.40p on the news.

Read more on Proactive Investors UK


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