BP announced Friday that it has appointed Lamar McKay as its new Chief Executive of Upstream.
McKay, who will be based in London and will report to BP CEO Bob Dudley, is currently Chairman and President of BP America – a role he has held since early 2009. He has been BP's chief representative in the United States and has also been overseeing BP's Gulf Coast restoration work after the Deepwater Horizon disaster.
In his new role McKay will lead BP's combined Upstream business, which comprises the Exploration, Development and Production divisions together with the Upstream strategy and integration team.
McKay will take up his new position in the New Year.
BP added that the current structure and management teams will remain unaffected by McKay's appointment. BP formed the three Upstream divisions in late 2010 in a major reoganization of the firm's Upstream business in order to improve risk management and implementation of standardized working practices.
Last week, BP announced it had reached a deal with the U.S. Department of Justice to plead guilty to certain criminal charges, along with a similar agreement with the Securities and Exchange Commission. These deals will see the firm pay out $4.5 billion in connection to the Deepwater Horizon accident.
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