BP Chief Executive Officer Bob Dudley is drawing up plans to step down next year...
) Chief Executive Officer Bob Dudley is drawing up plans to step down next year, ending a tumultuous decade at the helm of the oil and gas company that swung from near collapse in 2010 to rapid growth today, sources close to the company said on Monday.
BP’s first American CEO has indicated several times in closed discussions in recent years that he would like to retire at the age of 65, taking him into 2020. Preparations for his departure were accelerated after Helge Lund became BP chairman in January 2019 with a mandate to oversee succession plans.Chief Financial Officer Brian Gilvary and Bernard Looney, head of oil and gas production, are seen as leading candidates, sources have previously told Reuters.
He has since had to navigate near bankruptcy, a vast asset disposal to pay for over $60 billion in litigation and clean-up costs followed by a landmark settlement with U.S. authorities.After steadying the ship following the 2017 spill settlement, Dudley oversaw a recovery in the company’s operations and a rapid expansion of its production, including a $10.5 billion acquisition of U.S. shale assets, its largest such deal in 30 years.
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