BP Helge Lund Chair to step down

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The president of BP Helge Lund announced plans to step down after a bruising period in which Major Oil tried to overcome fossil fuels only for this year.

The company said on Friday LundAnd, who has been president since 2019, has informed his council about his plan “to step down in time”. The independent board director of the board of directors added that the search for a successor will be led by Amanda Blanc, the first independent director of the board.

The departure of Lund comes BP In February, a five -year -old radical strategy was abandoned to re -invent itself as a green energy company. This shift was followed by news that the active investor has built a share approaching 5 percent in the company and was paying for comprehensive changes after a long period of performance.

The American hedge fund arrived to pressure Lund, which has already become the subject of increasing criticism of other shareholders.

Lund obtained two main responsibilities when he assumed the position of President: choosing the new CEO and overseeing the development of a new strategy.

I faced his efforts on both fronts a problem. LUND was refused to choose the CEO, Bernard Loony, for his failure to fully disclose the council in previous relations with BP colleagues. The aggressive shift was abandoned to renewable energy sources, which he supervised with Lony, in February.

“Now is the time to start the process to find my successor and enable organized and smooth delivery,” said Lund, former CEO of BG Group and BG Group in Norway.

“We have started a comprehensive research to identify the candidates for the presidency with the relevant credibility and experience to lead the Board of Directors and continue the safe implementation of the administration management of the reset strategy,” said Blanc.