US EditionBP chair Helge Lund to step down
- Helge Lund will step down from BP after the company reset its strategy to focus more on fossil fuels, recently shelving carbon-reduction targets and clean energy investments.
- BP plans to cut cleaner energy investment by over $5 billion annually after a difficult trading year, facing pressure from investors to increase its share price.
- The company reported a 97 percent slump in net profit last year and laid off 4,700 employees, about five percent of its global workforce.
- Lund stated that BP's focus now is on delivering the strategy at pace, improving performance, and growing shareholder value.
58 Articles
58 Articles
BP Chair to Step Down Amid Elliott Campaign for Changes
BP chair Helge Lund has informed the board that he would be stepping down from the role “most likely during 2026,” as activist investor Elliott continues to demand more changes at the UK-based supermajor. BP’s board of directors has initiated a succession process to select a new Chair after Helge Lund informed the board of his intention to step down in due course, the company said on Friday. “It is intended that the successful candidate will joi…
BP chair Helge Lund bows out as oil giant ditches renewable strategy to focus on fossil fuels
BP on Friday said chairman Helge Lund will step down after a major reset at the British energy giant that saw it recently shelve carbon-reduction targets to focus on fossil fuel output. "Having fundamentally reset our strategy, BP's focus now is on delivering the strategy at pace, improving performance and growing shareholder value," Lund, who is "most likely" to step down next year, said in a statement. The Norwegian, who assumed the role at th…
Sun Newspapers
BP chairman to step down after energy strategy reset
BP on Friday said chairman Helge Lund will step down after a major reset at the British energy giant that saw it recently shelve carbon-reduction targets to focus on fossil fuel output.
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