BP Trims Board of Directors as Part of Reset Plan
By Nina Kienle
British energy giant BP said it is streamlining its board of directors as part of its reset strategy, which focuses on improving operational performance in a bid to grow shareholder returns.
Chairman Albert Manifold, who took on the position last year, in a letter to shareholders on Friday said nonexecutive director Melody Meyer will retire from the board on the day of the next meeting of shareholders due April 23, after a nine-year tenure.
Karen Richardson and Simon Henry have also said that they won't be seeking election or re-election by shareholders. They will step down following the upcoming annual general meeting, the company said.
BP's board will be trimmed down to 10, allowing for faster decision-making and sharper oversight, it said. Fourteen members of the board are currently listed on BP's website.
The reset strategy was set out in February last year and has already been accompanied by a revamped board and a new chief executive.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
March 06, 2026 11:22 ET (16:22 GMT)
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