The BP board has appointed Murray Auchincloss (pictured) as chief executive with immediate effect, re-committing to its energy transition strategy, which includes renewables.
Auchincloss, who has been interim chief executive since September 2023, will continue as a member of the BP board.
He said: “It’s an honour to lead BP – this is a great company with great people.
“Our strategy – from international oil company to integrated energy company, or IOC to IEC – does not change.
“I’m convinced about the significant value we can create.
“Now, more than ever, our focus must remain on delivery – operating safely and efficiently, executing with discipline, and always focusing on returns.
“This is how we will deliver real benefits for our customers and other stakeholders and continue to grow long-term value for BP’s shareholders.”
The search process for the new chief executive was led by a committee of the BP board, headed by Helge Lund together with three other non-executive directors.
The appointment decision was approved by the full BP board, excepting Murray Auchincloss.
Lund said: ”Many already know Murray well, and few know BP better than he does.
“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.”