BP plc Initiates Search for New Chairman

In a significant announcement on Friday, BP plc disclosed that its Board of Directors has started the search for a new chairman. This decision comes after the current Chairman, Helge Lund, expressed his intention to step down from his position.

Ensuring a Smooth Transition

The company emphasized its commitment to a seamless leadership transition. "The chosen candidate will initially join the board, collaborating with Helge to ensure a smooth handover before assuming the chairmanship," BP stated. Lund is expected to depart from the board in 2026.

Lund's Vision for BP's Future

Reflecting on his decision, Lund mentioned, "I believe now is the right time to begin the succession process." He highlighted the company's focus on implementing its new strategy and enhancing shareholder value as key reasons for the timing of his announcement.