BP has announced the appointment of Kate Thomson as the interim Chief Financial Officer (CFO) in a recent executive reshuffle following the sudden departure of CEO Bernard Looney. This move came after it was revealed that Looney had not fully disclosed past professional relationships with colleagues.
Thomson’s appointment follows the recent appointment of Murray Auchincloss as the interim CEO.
Kate Thomson, a seasoned BP veteran with almost two decades of service, has a strong track record in managing the financial aspects of the company’s oil and gas production and operations division. Notably, she has served on the board of Aker BP for the past seven years and holds positions on several other BP group company boards, showcasing her extensive experience and expertise within the industry.
The departure of Bernard Looney, who played a pivotal role in BP’s energy transition strategy, has left a leadership vacuum at the company. The search for a new permanent CEO is now in progress, both internally and externally, although no clear front-runner has emerged at this time.
Murray Auchincloss, who is taking on the role of interim CEO, expressed confidence in Kate Thomson’s ability to assume the position of interim CFO. He emphasized her deep technical knowledge and comprehensive understanding of BP, making her an ideal candidate for the role. Auchincloss, who has closely collaborated with Looney in shaping BP’s energy transition strategy, has been an advocate for prioritizing high-return assets to fund this transition. Under his leadership, BP’s legacy oil and gas assets delivered record profits of $28 billion in the previous year.
This reshuffle represents a significant moment in BP’s corporate leadership, as the company navigates a changing energy landscape and strives to remain a key player in the global energy sector. Thomson’s appointment as interim CFO signifies BP’s commitment to maintaining financial stability and strategic focus during this transitional period. The search for a new permanent CEO will undoubtedly be a closely watched development as BP charts its course into the future.
