BP PLC - London-based oil and gas major - Announces organisational restructuring. Intends to keep its three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. Plans to integrate the current regions, corporates & solutions organisation into the businesses and functions. BP will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. BP explains these changes will "reduce duplication and reporting line complexity".

BP's executive leadership team reduces in size to ten members from eleven before. Its financial reporting structure remains unchanged. William Lin, who previously led regions, corporates & solutions, now leads the gas & low carbon energy business, succeeding Anja-Isabel Dotzenrath who is retiring. Emeka Emembolu will head BP's technology function, taking over from Leigh-Ann Russell who is leaving BP.

Current stock price: 513.80 pence, down 0.6% in London on Thursday

12-month change: down 5.6%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.