The group is reducing its executive director leadership team to 10 from 11 after a move to axe the regions, corporates and solutions division, which will be merged within its other businesses
BP’s new chief executive, Murray Auchincloss, has unveiled plans to shrink his leadership team amid a restructure aiming at streamlining the company’s operations.
BP will be reducing its number of executive directors from 11 to 10 as it axes its regions, corporates and solutions division, which will, instead, fuse with other existing businesses in the company. William Lin, who used to run the now-dissolved division, will take over as the head of the gas and low carbon energy business, replacing the departing Anja-Isabel Dotzenrath.
Anticipating her retirement from BP, and her executive career, Anja-Isabel Dotzenrath steps down while tech lead Leigh-Ann Russell exits to seize an “external opportunity”. Leigh-Ann Russell’s shoes will be filled by current chief of staff Emeka Emembolu, a BP veteran with a quarter of a century’s experience under his belt with the firm.
Despite the boardroom departures, BP ensures that its senior leadership team, though reduced to ten, keeps its gender balance evenly split. With three major business arms remaining after this restructuringaccompanied by its trading and shipping division, reinforced by five auxiliary functionsBP marches forward.
This comes as part of Murray Auchincloss asserting his influence on the company since taking up the reins officially back in January. Mr Auchincloss spoke about the company’s renewed focus stating: “We need to deliver as a simpler, more focused and higher value company. These changes will help us do just that, reducing complexity within BP, allowing our team to focus on delivering our priorities and growing the value of BP.”
The shake-up comes following a surge in BP’s stock value last week, sparked by rumours that Abu Dhabi’s state-run oil titan had eyed up, but ultimately dismissed, a takeover of the UK-listed energy heavyweight. Buzz around the City last Thursday night was all about how the Abu Dhabi National Oil Company (Adnoc) had concluded that BP wasn’t quite the right fit for them and didn’t align with their strategic plans, yet the mere whiff of acquisition interest sent BP’s shares soaring.
Murray Auchincloss, who served as BP’s finance boss for the bulk of 2023, stepped up as the interim CEO in September after Bernard Looney’s exit. Come January, Murray Auchincloss was handed the reins as BP’s full-time chief executive.
