BP's CEO Hunt: Internal Candidates Reportedly Lead Race For The Top Job

Oil giant BP Plc BP is reportedly considering internal candidates for its next CEO, following Bernard Looney's resignation, with the board shortlisting interim CEO Murray Auchincloss and two senior female executives for the role.

Looney's unexpected departure on September 12, due to non-disclosure of relationships with employees, has left BP without a clear successor.

The company's people and governance committee, led by Chairman Helge Lund, is now focusing on Auchincloss, Carol Howle, head of trading and shipping, and Emma Delaney, head of customers and products, as potential successors, reported Reuters.

The committee, which is expected to decide in the coming weeks, is also reportedly considering external candidates.

If Howle or Delaney are chosen, it would mark the first time a woman leads one of the top five Western oil and gas companies. An internal appointment would indicate the board's endorsement of BP's current strategy, which focuses on reducing carbon emissions and transitioning towards renewables and clean fuel, while also reducing oil and gas output by 2030, as per the report.

An announcement regarding the new CEO is reportedly expected in the first quarter of the upcoming year.

Auchincloss, currently seen as the frontrunner due to his experience and close involvement with investors and the board, played a significant role in shaping the changes in BP's strategy under Looney. However, his close association with Looney could be a disadvantage, the report further added.

Howle brings over two decades of experience at BP and has held several senior roles.

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Price Action: BP shares are trading higher by 0.65% at $35.35 on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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