British oil giant BP on Wednesday named Murray Auchincloss as permanent CEO, after he had taken on the role on an interim basis following the surprise resignation of Bernard Looney.
“BP announced today that the board has appointed Murray Auchincloss as chief executive officer with immediate effect,” the group said in a statement.
Former finance chief Auchincloss took the reins in September after ex-CEO Looney resigned unexpectedly over his failure to disclose past relationships with colleagues.
“BP’s board has undertaken a thorough and highly competitive process… The board is in complete agreement that Murray was the outstanding candidate and is the right leader for BP,” said chairman Helge Lund in the statement.
The announcement comes ahead of annual results that are due on February 6.
The oil titan revealed in October that it rebounded strongly into net profit in the third quarter after large accounting charges had pushed it into the red a year earlier.
Profit after taxation stood at $4.9 billion (4.6 billion euros) in the three months to September.
Auchincloss added Wednesday that he was “convinced” about the “significant value we can create” at BP.
“Now, more than ever, our focus must remain on delivery — operating safely and efficiently, executing with discipline, and always focusing on returns,” he said.
“This is how we will deliver real benefits for our customers and other stakeholders and continue to grow long-term value for BP’s shareholders.”
Looney had left BP after less than four years as CEO, having steered the energy major through a tumultuous period that included huge swings in prices owing to the Covid pandemic and Russia’s invasion of Ukraine.
He had also come under fierce criticism from environmental campaigners, who have accused BP and its rivals of not going far enough in transitioning away from fossil fuels. –Agence France-Presse
