BP Announces Dudley Retirement Date and Successor
The board of BP announced Friday that Bob Dudley has decided to step down as group chief executive and member of the board on February 4, 2020 and will retire on March 31, 2020.
Bernard Looney, the company’s current upstream chief executive, will succeed Dudley as group chief executive and join the BP board on February 5, 2020, BP’s board revealed.
Dudley became group chief executive on October 1, 2010. He started his career at Amoco Corporation in 1979 and became general manager for strategy at the company in 1997. In 1999, following the merger between BP and Amoco, Dudley was appointed to a similar role in BP.
Looney has run BP’s upstream business since April 2016 and has been a member of the company’s executive management team since November 2010. He joined BP in 1991 as a drilling engineer .
“Bob has dedicated his whole career to the service of this industry. He was appointed chief executive at probably the most challenging time in BP’s history,” BP Chairman Helge Lund said in a company statement.
“During his tenure he has led the recovery from the Deepwater Horizon accident, rebuilt BP as a stronger, safer company and helped it re-earn its position as one of the leaders of the energy sector. This company, and indeed the whole industry, owes him a debt of gratitude,” he added.
Commenting on Looney’s appointment, Lund said, “Bernard has all the right qualities to lead us through this transformational era”.
“He has deep experience in the energy sector, has risen through the ranks of BP, and has consistently delivered strong safety, operational and financial performance. He is an authentic, progressive leader, with a passion for purpose and people and a clear sense of what BP must do to thrive through the energy transition,” Lund added.
Dudley said, “It has been the privilege of a lifetime to serve this company and work in this industry for the past four decades”.
“I have worked with so many committed people from all over the world, both inside and outside BP, and I am enormously proud of all the things we have achieved together to provide energy for the world,” he added.
The outgoing group chief executive went on to state that Looney was a “terrific choice to lead the company next”.
Looney said, “it has been a great pleasure to work with Bob and it is an honor to succeed him as chief executive”.
“I am humbled by the responsibility that is being entrusted to me by the board and am truly excited about both the role and BP’s future,” he added.
BP describes itself as a global energy business with wide reach across the world's energy system. The company has operations in Europe, North and South America, Australasia, Asia and Africa and employed 73,000 people as of December 31, 2018.
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