BP Investors Want Oil Firm to Approach BAE Chief as CEO, Sky News Reports

Some of BP's (BP.L) largest shareholders have urged the company to approach BAE Systems (BAES.L) Chief Executive Charles Woodburn about becoming the British oil giant's next boss, Sky News reported on Saturday, citing unidentified sources.

Several large investors believe that BP should target the appointment of an external candidate as its CEO, according to the report.

It is unclear whether Woodburn had been formally approached by BP, according to Sky, adding he had been sounded out in recent weeks.

"Charles is chief executive of BAE Systems and we have no comment on BP personnel matters," a BAE Systems spokesperson said.

BP was thrown into turmoil after Chief Executive Bernard Looney resigned on Sept. 12 for failing to disclose relationships with employees, leaving no clear succession plan in place.

BP's board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Looney, three company and industry sources told Reuters last month.

"The process to appoint BP's next CEO is ongoing. We won't comment on speculation regarding potential candidates," a spokesperson for BP said when asked about the Sky report.

January 06, 2024