BP appoints Albert Manifold as new chair, Helge Lund to step down Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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BP-voorzitter Helge Lund stapt op onder druk van aandeelhouders Key takeaways   De voorzitter van BP, Helge Lund, stapt op na druk van aandeelhouders. Lund, die het bedrijf sinds 2019 leidt, zal in zijn functie blijven tot er een opvolger is benoemd en naadloos in de functie overgaat, wat naar verwachting in 2026 zal zijn. Deze beslissing komt nadat het invloedrijke New Yorkse hedgefonds […]

BP-voorzitter Helge Lund stapt op onder druk van aandeelhouders #BP #HelgeLund #aandeelhouders #bedrijfsnieuws #corporategovernance

Le président de BP, Helge Lund, démissionne sous la pression des actionnaires Principaux renseignements Contexte et pressions sur Helge Lund Le président de BP, Helge Lund, se retire sous la pression des actionnaires. Lund, qui dirige l’entreprise depuis 2019, restera à son poste jusqu’à ce qu’un successeur soit nommé et qu’il prenne ses fonctions de manière transparente, ce qui devrait être le cas en 2026. Cette décision […]

Le président de BP, Helge Lund, démissionne sous la pression des actionnaires #BP #HelgeLund #démission #actionnaires #entreprise

BP chair Lund to exit ’likely’ in 2026 amid Elliott campaign (Reuters) -BP Chair Helge Lund intends to step down "likely during 2026", the energy group said on Friday amid a campaign by activist hedge fund Elliott for more change at the company. Lund had backed BP (NYSE:BP)’s 2020 strategy under former CEO Bernard Looney to move away from oil and gas, including an ambition to cut its hydrocarbon output by 40% this decade. BP’s shares have been underperforming rivals such as Shell and Exxon (NYSE:XOM), with BP’s market capitalisation of around $84 billion currently less than half of Shell’s. Following gradual steps away from that strategy - and Looney’s departure in 2023 after it emerged he had not disclosed relationships with colleagues - new Chief Murray Auchincloss in February announced a renewed focus on oil and gas. "Now is the right time to start the process to find my successor and enable an orderly and seamless handover," Lund said in a statement. Elliott Management, which has built a near 5% stake in BP according to sources, wants even more change, including a more ambitious asset disposal programme compared with the group’s $20 billion divestment target through 2027. BP’s shares were down 1.7% in early trading compared with a 2% fall for a wider index of energy companies. Elliott has met with other shareholders to discuss issues including potential leadership changes, sources have told Reuters. Elliott Management declined to comment on Friday. "To several investors we have spoken to, Helge was seen as the chief architect of the prior (2020) strategy, while he also appointed the previous CEO, which ultimately led to material share price underperformance over many years," said RBC analyst Biraj Borkhataria. "Stepping down voluntarily is probably a better look than the alternative." Some climate-focused investors have called a vote against Lund’s re-election at the April 17 AGM for not allowing shareholders a say on BP’s renewed focus on oil and gas. "The need to vote against the chair in 2025 has not disappeared with his resignation in 2026," said Mark van Baal, founder of the Follow This climate shareholder group, whose resolution received support from 17% of BP shareholders in 2023. "Investors concerned with good governance must voice their concerns." Lund received fees and benefits for his role at BP of 882,000 pounds ($1.15 million) for last year and holds stock that was worth 2.8 million pounds as of February, according to BP’s annual report. The successful candidate will join the board and work with Lund ahead of taking on the role, at which point Lund will step down from the board, most likely in 2026, BP said. Statoil (OL:EQNR). He has also been the chair of Danish drugmaker Novo Nordisk (NYSE:NVO) since 2018.

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