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On Friday, BP reported that CEO Bob Dudley is stepping down next year. Dudley who has spent 40 years with BP, has been chief executive for nearly 10 years, taking over after the Deepwater Horizon drilling accident. Dudley will be replaced by BP insider Bernard Looney in February 2020. Bernard Looney is the youngest CEO to run a major oil firm and he does so at a time when the pressure is on from investors, governments and people worldwide to drive emissions to net zero.
“Lowering carbon emissions is something Bernard cares about, ” says a BP insider to Pink Petro.
“As the company charts its course through the energy transition this is a logical time for a change. Bernard has all the right qualities to lead us through this transformational era. He has deep experience in the energy sector, has risen through the ranks of BP, and has consistently delivered strong safety, operational and financial performance. He is an authentic, progressive leader, with a passion for purpose and people and a clear sense of what BP must do to thrive through the energy transition,” says BP Chairman Helge Lund.
Bob Dudley will retire on March 31, 2020.