BP 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 move comes after current Chairman Helge Lund expressed his intention to step down from his position.

Ensuring a Smooth Transition

The company outlined its plan for the transition, stating, "The selected candidate will initially join the board to work alongside Helge, ensuring a seamless handover before assuming the role of Chair. Helge 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 opportune moment to begin the succession process." He emphasized the company's focus on implementing its new strategy and enhancing shareholder value as key reasons for the timing of his departure.