British oil company BP appoints interim boss as new CEO

The great oil British BP announced on Wednesday that its interim CEO Murray Auchincloss will take over the role permanently, replacing Bernard Looneywho resigned when it was revealed that he hid his relationships with company colleagues from the board of directors.

Auchinclossa 53-year-old Canadian who was BP’s financial manager for more than three years, took over as CEO in September, after the surprise resignation of Looney. Auchincloss joined BP when the company took over oil company Amoco in 1998.

“Since September, BP’s board has undertaken an exhaustive and highly competitive process to identify the next CEO, studying several high-caliber candidates in detail.”said Chairman of the Board Helge Lund.

He added that the board was “totally agree” that Auchincloss It was him “outstanding candidate and the right person to lead BP”.

Auchincloss He said the company’s diversification strategy to move away from oil and become a “comprehensive energy company” will not change.

Biraj Borkhatariaan analyst at RBC Capital Markets, said the appointment was the best possible outcome for shareholders, since hiring someone from outside the company would have caused “greater uncertainty about the direction of the business and possibly more rumors about a new change in strategy”.

Instead, Charlie Kronicksenior climate advisor at the environmental group Greenpeace of the United Kingdom, said that the measure does not mean any change “in a company that has not yet made the transition away from fossil fuels at the necessary pace”.

Looneydedicated his entire working life to the company, where he started as a drilling engineer in 1991, he resigned after recognizing that he had not been “totally transparent” by revealing details of their relationships to the board.

He was denied salaries, pensions, bonuses and shares worth 32.4 million pounds (US$41 million) because, according to BP, he committed “serious misconduct” by misleading the board.