The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

UPDATE 1-BP Chief Executive Dudley confirms plan to step down next year

Wed, 02nd Oct 2019 16:33

(Adds details, quotes, background)

MOSCOW, Oct 2 (Reuters) - BP Chief Executive Officer
Bob Dudley said on Wednesday he plans to step down next year
following a tumultuous decade at the helm of the oil and gas
company.

Dudley, who turned 64 last month, said he would retire at 65
but that no decision on the timing of this move had been taken
by BP's board.

Reuters reported on Monday that Dudley was drawing up plans
to leave the company next year, which were discussed at BP's
board meeting in the United States last week.

"I've said a long time, at the age of around 65 I would"
step down, Dudley told reporters at an energy conference in
Moscow.

No successor has been named yet, sources close to the
company told Reuters.

Dudley became chief executive after his predecessor Tony
Hayward stepped down in the wake of the April 2010 Deepwater
Horizon disaster in the Gulf of Mexico, that killed 11 rig
workers and caused the largest oil spill in U.S. history.

He has since led BP through near-bankruptcy and an oil price
collapse to being one of the fastest-growing oil companies. He
has also overseen its efforts to address growing investor
pressure to tackle climate change.

(Reporting by Dmitry Zhdannikov, Vladimir Soldatkin
Writing by Olzhas Auyezov and Ron Bousso; editing by David Evans
and Bernadette Baum)

Related Shares

More News
22 May 2024 21:54

US lawmakers urge Justice Department to probe climate deception by Big Oil

May 22 (Reuters) - U.S. lawmakers behind a congressional probe of major oil companies on Wednesday called on the Justice Department to investigate w...

22 May 2024 02:00

British firms expecting hard time in China market, lobby group warns

BEIJING, May 22 (Reuters) - British firms expect doing business in China to become harder over the next five years, a British business lobby group s...

22 May 2024 00:01

US Cash Products-Chicago RBOB surges after refinery issues

NEW YORK, May 21 (Reuters) - Cash differentials for RBOB gasoline surged on Tuesday after a refinery that has faced operational issues in recent days ...

16 May 2024 17:53

European shares snap nine-day winning streak as Siemens weighs

Roche gains on obesity drug results from early-stage trial *

16 May 2024 17:33

FTSE 100 ends lower on disappointing corporate updates, BT Group soars

BT Group up after CEO aims for more than double free cash flow *

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.