LONDON (Alliance News) - Blue-chip oil firm BP PLC announced Thursday it has appointed former Statoil Chief Executive Helge Lund as its new chairman.
Lund will join BP's board as chairman-designate and as a non-executive director at the start of September before taking up his new role at the beginning of 2019.
He is replacing Carl-Henric Svanberg, who made public his plans to retire in October after seven years as chairman.
Lund was chief executive of Norwegian oil firm Statoil for ten years to 2014, and after that also headed up BG Group from 2015 to 2016 before its merger with Royal Dutch Shell PLC.
He is also currently chairman of healthcare firm Novo Nordisk AS, and will step down from his role as a non-executive director at oil services firm Schlumberger.
Chief Executive Bob Dudley said: "Carl-Henric has steadily led our board through BP's darkest days and into this period of growth and modernization. We owe him a debt of gratitude for his strong support and clear vision over the past nine years.
"I have known Helge for more than a decade and I am very much looking forward to working with him. With strategic vision and a modern, global perspective, he has a clear understanding of the challenges and the opportunities facing our industry."
He added: "I am confident Helge, with the rest of the board, will provide the company with good governance and strategic guidance as we continue to grow and adapt through the energy transition."
BP shares were up 1.2% early Thursday at 530.50 pence per share.
BP (BP.)