By Pierre Bertrand

BP will simplify its organizational structure and cut its executive leadership team to 10 as it seeks to reduce duplication and complexity in management reporting lines.

The team currently comprises 11 members, according to BP's website.

The changes are part of a plan to turn the British giant into an integrated energy company, to move away from its image as an oil major and to invest more in low-carbon activities.

Chief Executive Murray Auchincloss said Thursday that BP needed to become simpler and more focused, and that the changes would help grow the value of the company.

BP will continue to comprise three business units: production and operations, gas and low-carbon energy, and customers and products.

William Lin will head up the gas and low-carbon energy business, succeeding Anja-Isabel Dotzenrath, who is retiring, it said.

In addition, BP's operations will now be supported by five so-called functions which include finance; technology; strategy, sustainability and ventures; people and culture; and legal.

Emeka Emembolu has been tapped to lead BP's technology function, taking over from Leigh-Ann Russell who is leaving the company, it said.

Among the changes, BP's regional teams will now report to their most relevant businesses. For example, its Latin America team will report to production and operations. Its America and China teams, as well as its strategic corporates and partnerships team and central non-operated joint ventures team, will report to the gas and low-carbon energy unit. The company's U.K. and Europe teams will now report to customers and products.

Its financial reporting structure will remain unchanged, it said.

Write to Pierre Bertrand at

(END) Dow Jones Newswires

04-18-24 0543ET