BP Initiates Search for New Chairman as Helge Lund Plans 2026 Exit

In a significant move, BP plc announced on Friday that it 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 in 2026.

The company emphasized that the selected candidate will initially join the board to work alongside Lund. This collaboration aims to ensure a smooth transition before the new chair assumes the role, with Lund expected to depart from the board in 2026.

Lund remarked on the timing of this succession process, stating it aligns with the company's focus on implementing its new strategy and enhancing shareholder value. "Now is the right time," Lund said, highlighting the strategic importance of this transition for BP's future.