BP Shutters Alternative Energy Headquarters

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BP Shutters Alternative Energy Headquarters

LONDON -- Although BP shut down its alternative energy headquarters here, a move that follows the resignation of its clean energy boss, Tony Hayward, the group's chief executive, said BP is as committed as ever to exploring new energy sources, while the non-oil division would benefit from the extra focus of being brought back in house, the Guardian reported.

"We are going through a major restructuring and bringing the alternative energy business headquarters into the head office seems a good idea to me," Hayward told the paper. "It saves money and brings it closer to home ... you could almost see it as a reinforcement [of our commitment to the business]."

The move back to BP's corporate headquarters made sense, particularly when the group was sitting on spare office space due to earlier cutbacks, Hayward said in the report.

BP Alternative Energy was given its own headquarters two years ago and its managing director, Vivienne Cox, oversaw 80 staff concentrating on wind and solar power. Cox, 49, and BP's most senior female executive, is stepping down today, according to the report.

Cox was stepping down to spend more time with her children, Hayward said. Cox will be replaced by her former deputy, Katrina Landis.

Meanwhile, BP made cuts in the alternative energy budget—from $1.4 billion last year to between $500 million and $1 billion this year, the report stated.

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