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 started the search for a new chairman. This move comes after the current Chairman, Helge Lund, expressed his intention to step down from his role.

Transition Plans Unveiled

BP elaborated on the transition plan, stating, "The selected candidate will initially join the board to work alongside Helge, ensuring a smooth handover. The new chair is expected to take over the position fully by 2026, at which point Helge will resign from the board.

Lund's Vision for the Future

Reflecting on his decision, Lund mentioned, "I believe now is the opportune moment to begin the succession process. This timing aligns with the company's focus on implementing its new strategy and enhancing shareholder value."