BP PLC (NYSE: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.
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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.
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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.
