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

In a significant development for BP plc, the company announced on Friday the commencement of a search for a new chairman. This decision comes after current Chairman Helge Lund expressed his intention to step down from his role.

Transition Plan Unveiled

The energy giant outlined a clear transition plan, stating, "The selected candidate will initially join the board, collaborating with Helge to ensure a smooth handover. The new chair is expected to fully assume responsibilities by 2026, at which point Lund will depart from the board."

Lund's Perspective on Timing

Reflecting on his decision, Lund remarked, "I believe now is the opportune moment to initiate the succession process. This move aligns with BP's strategic goals and our commitment to enhancing shareholder value."