BP's CEO Search Success: Interim CEO Takes The Helm Permanently

BP PLC BP disclosed the appointment of Murray Auchincloss as its chief executive officer (CEO) effective immediately.

Auchincloss, interim CEO of the company since September 2023, will continue as a member of the company’s board.  

Related: BP CEO Hunt: Investors Push For External Candidate, BAE’s Woodburn Reportedly In Spotlight

Helge Lund, chair of bp said, “His assured leadership, focus on performance and delivery, and deep understanding of the opportunities and challenges in the energy transition will serve bp well as we continue our disciplined transformation to an integrated energy company.”

Before becoming interim CEO in September 2023, Murray had been BP’s CFO since July 2020. 

Auchincloss stated, “Our strategy – from international oil company to integrated energy company, or IOC to IEC – does not change.”

Notably, BP’s previous CEO, Bernard Looney, resigned last year amid an investigation into personal conduct.

Also Read: Equinor, BP Terminate Offshore Wind Power Sale Contract With New York

BP will report its fourth-quarter results on Feb 6, 2024.

Price Action: BP shares closed lower by 1.66% at $34.28 on Tuesday.