BP Appoints New CEO
LONDON — The board of directors at bp has named a new CEO.
Murray Auchincloss will take on the role of bp's chief executive effective immediately. He has been serving as interim CEO since September after the previous CEO, Bernard Looney, stepped down. Auchincloss will continue as a member of the bp board.
According to the energy giant, the board made the appointment "following a robust and competitive search process" carried out over the past four months with support from international search advisers. This included detailed consideration of a range of candidates, including external to bp.
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"Since September, bp's board has undertaken a thorough and highly competitive process to identify bp's next CEO, considering a number of high-caliber candidates in detail. The board is in complete agreement that Murray was the outstanding candidate and is the right leader for bp," said Helge Lund, chair of bp.
"Many already know Murray well, and few know bp better than he does. His assured leadership, focus on performance and delivery, and deep understanding of the opportunities and challenges in the energy transition will serve bp well as we continue our disciplined transformation to an integrated energy company," he added.
Lund headed the bp board committee, which also included three nonexecutive directors, that led the CEO search process. The decision was approved by the full board, excluding Auchincloss, the company said.
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"It's an honor to lead bp — this is a great company with great people. Our strategy — from international oil company to integrated energy company, or IOC to IEC — does not change. I'm convinced about the significant value we can create," Auchincloss said. "Now, more than ever, our focus must remain on delivery — operating safely and efficiently, executing with discipline, and always focusing on returns. This is how we will deliver real benefits for our customers and other stakeholders and continue to grow long-term value for bp's shareholders."
Auchincloss had been bp's chief financial officer (CFO) since July 2020, at which time he also joined bp's board. He had previously served as CFO, deputy CFO and head of business development for bp's Upstream segment. From 2010-2013, he was head of bp's group chief executive's office.
Auchincloss joined Amoco Canada in 1992.
Based in London, the company's U.S. retail presence includes bp, ARCO/ampm, Amoco, Thorntons and, most recently, TravelCenters of America.