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BP to Simplify Organization, Reduce Size of Leadership Team — Update

By Pierre Bertrand


BP said it will simplify its organizational structure and cut the size of its leadership team as it seeks to reduce duplication and complexity in management reporting lines.

The changes are part of a plan to turn the British energy giant into an integrated energy company and move away from its image as an oil major and invest more in low-carbon activities.

Chief Executive Murray Auchincloss said Thursday that BP needed to become simpler and more focused, and that the changes would help grow the value of the company.

BP will continue to comprise three business units: production and operations, gas and low-carbon energy, and customers and products.

The company appointed William Lin to lead the gas and low-carbon energy business, succeeding Anja-Isabel Dotzenrath, who is retiring.

The company will reduce the size of its executive leadership team to 10, it said. The team currently comprises 11 members, according to BP's website. Its financial reporting structure will remain unchanged, BP said.


Write to Pierre Bertrand at


(END) Dow Jones Newswires

April 18, 2024 04:19 ET (08:19 GMT)

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