BP appoints interim finance chief after CEO Looney’s exit
BP appoints interim finance chief after CEO Looney’s exit | Windpower Monthly
Oil major has appointed Kate Thomson as its interim chief financial officer amid a company reshuffle after CEO Bernard Looney quit the company last week.
Looney resigned with immediate effect on 12 September amid a probe into his personal relationships with colleagues prior to him becoming CEO.
The company’s chief financial officer, Murray Auchincloss, was appointed as CEO on an interim basis following Looney’s resignation.
BP has now appointed Thomson – currently the oil major’s senior vice president of finance for production and operations – to replace Auchincloss on an interim basis.
Thomson has been with the company for 19 years.
BP aims to have developed 50GW (net share) of renewable assets by 2030, though plans to continue sourcing oil and gas.
It is active in offshore wind and green hydrogen, as well as solar through its Lightsource venture.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”