BP Chair Announces Departure, Succession Process Begins

BP p.l.c. revealed that its Chair, Helge Lund, plans to step down. Consequently, the board has initiated the process to find a successor. Dame Amanda Blanc, as Senior Independent Director, is leading this search with the board's support.

The new Chair will join the board to ensure a smooth transition with Helge Lund. This is expected to culminate in his departure during 2026. The board emphasizes that throughout this process, management's execution of the new strategy remains a top priority.

Lund expressed confidence in the company's strategy reset, focusing on performance improvement and shareholder value growth. Amanda Blanc confirmed that the search aims to find a candidate with the necessary credibility and experience.