BP's CEO Hunt: Internal Candidates Reportedly Lead Race For The Top Job
Portfolio Pulse from Shivani Kumaresan
BP Plc (NYSE:BP) is considering internal candidates for its next CEO after Bernard Looney's resignation. The board is focusing on interim CEO Murray Auchincloss and two senior female executives, Carol Howle and Emma Delaney. An internal appointment would support BP's current strategy, emphasizing a transition to renewables and reduced oil and gas output. An announcement is expected in the first quarter of the next year. BP shares are up by 0.65% at $35.35.

December 19, 2023 | 4:37 pm
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BP is in the process of selecting a new CEO, with internal candidates leading the race. The decision will influence the company's strategic direction, particularly its commitment to renewable energy and reduced fossil fuel production.
The selection of a new CEO is critical for BP's future, especially as the company is transitioning towards a greener strategy. An internal candidate would likely continue the current path, which may be viewed positively by investors who support BP's strategic direction. The slight increase in share price suggests a modest positive market reaction to the news.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90