In the running: Acting BP chief exec Murray Auchincloss
BP’s search for a chief executive is set to extend into next year.
The oil company has been in turmoil since Bernard Looney quit in September, and its shares have dropped 9 per cent, while rival Shell’s have gained 2 per cent.
Murray Auchincloss, previously the chief financial officer, is the acting chief executive role and there has been speculation he will get the official job, but reports suggest no decision will be made until 2024.
Chairman Helge Lund continues to lead a probe into whether Looney breached company rules.
BP’s code of conduct says: ‘having an intimate relationship with someone whose pay, advancement or management you can influence represents a conflict of interest, which should be disclosed’.
Yesterday, BP took full control of the solar power developer Lightsource BP as it presses ahead with the transition strategy conceived by Looney.
It will pay an initial £254million for the 50 per cent it does not already own.
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