BP chair Helge Lund bows out as oil giant ditches renewable strategy to focus on fossil fuels [Fortune]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Fortune
“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 the start of 2019, added that up until his departure he remains “committed to supporting” chief executive Murray Auchincloss as the latter delivers the group's “strategic and financial objectives”. BP in February launched a major pivot back to its more profitable oil and gas business, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment. The strategy overhaul followed a difficult trading year for BP, which is under pressure from invest
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