UK-based supermajor BP chairman Helge Lund has revealed his intention to step down from the role in due course.
BP said that the board of directors will work with Lund to ensure an orderly transition ahead of the next chair taking over the role. It is expected that Lund will step down from the board most likely during 2026.
The succession process is being led by senior independent director Amanda Blanc. During this succession process, the board’s focus will remain on overseeing management’s delivery of the new strategy and this will continue to be their key priority under the new chair.
“Having fundamentally reset our strategy, BP’s focus now is on delivering the strategy at pace, improving performance and growing shareholder value. Now is the right time to start the process of finding my successor and enabling an orderly and seamless handover,” Lund said.
The BP chairman added that he and board would be support CEO Murray Auchincloss and his team to oversee the company’s delivery of its strategic and financial objectives.
