BP shakes up senior management

With Bob Dudley about to replace Tony Hayward as CEO on Friday, the company says Andy Inglis will leave and Mark Bly will head a new safety division.

By TheStreet Staff Sep 29, 2010 10:09AM

By Joseph Woelfel, TheStreet

 

BP (BP) shook up its senior management team just days before Bob Dudley takes over as CEO of the giant oil company.

 

BP, in a statement to the London Stock Exchange today, said Andy Inglis will relinquish his role as the head of the company's upstream business. Inglis' future as the head of exploration and production has long been speculated about in the wake of the company's massive oil spill in the Gulf of Mexico in April.

 

Inglis will step down as a main board director on Oct. 31 and will leave the company at the end of the year, BP said.


BP also said it has created a safety division to "oversee and audit the company's operations around the world."

The group will be led by Mark Bly, who will report directly to incoming CEO Dudley.

 

Dudley takes over from CEO Tony Hayward on Friday.

 

The Financial Times first reported the news of the BP management shakeup.

 

Dudley said the upstream segment will be restructured into three functional divisions: exploration, development and production. Dudley also said BP will carry out a "detailed and wide-ranging review of how it manages third-party contractors. "

 

"These are the first and most urgent steps in a program I am putting in place to rebuild trust in BP -- the trust of our customers, of governments, of our employees and of the world at large," Dudley said in a statement. "That trust is vital to the restoration of shareholder value, which has been so adversely affected by recent events. "

 

Related Articles

0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

RECENT QUOTES

WATCHLIST

Symbol
Last
Change
Shares
Quotes delayed at least 15 min
Sponsored by:

MARKET UPDATE

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Market index data delayed by 15 minutes
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +10.50. Nasdaq at... NYSE Adv/Dec 0/0... Nasdaq Adv/Dec 0/0.

Currencies

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Sponsored by:

VIDEO ON MSN MONEY