Trending: BP Names Interim CEO as Permanent Chief
17 Janeiro 2024 - 7:19AM
Dow Jones News
0949 GMT - BP is among the most mentioned companies across news
items over the past three hours, according to Factiva data, after
the British oil-and-gas major confirmed interim Chief Executive
Officer Murray Auchincloss as permanent boss. Auchincloss took over
as interim CEO on Sept. 12 when his predecessor left the company
after BP said he had failed to disclose details about past personal
relationships with colleagues. Shares have fallen 14% since the
abrupt exit, in large part due to uncertainty around BP's future
strategy. "Our strategy--from international oil company to
integrated energy company, or IOC to IEC--does not change,"
Auchincloss said Wednesday. The 53-year old Canadian is a longtime
BP executive who went on to serve as chief of staff to the CEO from
2010 to 2013, and had been finance chief since July 2020 before
becoming interim CEO. The confirmation of Auchincloss is "the best
possible outcome for BP shareholders in the short term, as it
represents continuity for the investment case," RBC Capital Markets
analyst Biraj Borkhataria says in a research note. Dow Jones &
Co. owns Factiva. (christian.moess@wsj.com)
(END) Dow Jones Newswires
January 17, 2024 05:04 ET (10:04 GMT)
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