BP set to name Thomson permanent CFO, completing top management reshuffle
LONDON, Jan 23 (Reuters) — BP is set to confirm Kate Thomson as its permanent chief financial officer after naming Murray Auchincloss as CEO last week, completing a leadership reshuffle following Bernard Looney’s abrupt resignation in September, two sources with knowledge of the matter told Reuters.
The board is expected to decide on the appointment before BP reports its full year results on Feb. 6, one source close to the process said.
Thomson was appointed interim CFO a week after Auchincloss took the helm of the energy company on Sept. 12, when Looney stepped down for failing to disclose past relationships with employees.
A BP spokesperson said “the process for the CFO appointment is progressing, following on from the appointment of the CEO last week.”
Thomson joined BP nearly 20 years ago and had previously led the finances of BP’s oil and gas production and operations division.
Auchincloss, 53, served as CFO under Looney. He was named permanent CEO last week, pledging to stick with BP’s energy transition plans.
BP’s shares have underperformed those of its rivals since Looney’s departure, raising speculation that the company could be an acquisition target amid a recent wave of consolidation.
(Reporting by Ron Bousso; Editing by Kirsten Donovan)
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Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”