(Reuters) – BP president Helge Lund intends to leave office, “probably in 2026” and the recruitment of his successor has already started, said British major major on Friday, which is pressured by the American activist fund Elliott Management for scale changes within the group.
Helge Lund had supported the 2020 strategy of former director general Bernard Looney, who had promised to reinvent the centenary group by revealing an ambitious plan to take it to carbon neutrality by 2050.
Bernard Looney had then had to resign at the end of 2024 after several accusations of personal relations with colleagues. His successor, Murray Auchincloss, announced in February his intention to focus again on oil and gas.
Elliott Management, whose participation in BP has reached almost 5% according to sources, wishes even more changes, including a program for the sale of more ambitious assets.
“The time has come to start my successor’s research process and ensure an ordered and transparent transition,” Helge Lund, who will be a re -election in a state -of -the -art BP, said in a statement of Helge Lund on April 17.
The chosen candidate will join the board of directors and work with Helge Lund before taking office, after which the president will withdraw from the board of directors, most likely in 2026, said BP.
Elliott Management did not immediately respond to a comment request.
(Written by Shadia Nasralla in London and Chandini Monnappa in Bangalore, Augustin Turpin, edited by Blandine Hénault)
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