BP Initiates Search for New Chairman as Helge Lund Prepares for Departure

In a significant announcement on Friday, BP plc disclosed that its Board of Directors has embarked on the quest to find a new chair. This move comes after the current Chairman, Helge Lund, communicated his intention to step down from his position.

A Smooth Transition Ensured

The energy giant outlined that the chosen successor will initially join the board, collaborating with Lund to guarantee a seamless transition. The new Chair is expected to fully assume the role by 2026, at which point Lund will retire from the board.

Lund's Vision for the Future

Reflecting on his decision, Lund expressed his belief that initiating the succession process now is timely. He emphasized the company's focus on executing its new strategy and enhancing shareholder value as pivotal reasons for the timing of his announcement.