General view of the BP logo and sign in front of a gas station on January 22, 2024 in Southend, UK.
John Keeble | Getty Images News | beautiful images
British oil giant BP on Thursday cut its executive team to 10 members and announced William Lin as the new head of the company's oil and low-carbon energy business.
Lin replaces Anja-Isabel Dotzenrath, who is retiring.
The company also announced Emeka Emembolu as the new leader of BP's technology functions, taking over from Leigh-Ann Russell, who is leaving the group.
BP said it was simplifying its organizational structure to support the delivery of priorities stated earlier this year “to increase the value” of the business.
BP CEO Murray Auchincloss said in a statement: “As I set out in February, BP's destination from IOC to IEC is unchanged – and we need to become a simpler, more focused company. more concentrated and of higher value.
“These changes will help us do just that, reducing complexity in bp, allowing our team to focus on delivering on our priorities and increasing the value of bp,” he added.
Shares in London-listed BP traded 0.6% lower on Thursday morning.
