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BP names former BG Group chief executive Helge Lund as new chairman

The FTSE 100-listed oil giant said Lund will join its board as chairman-designate and non-executive director on September 1 and will become chairman on January 1
BP petrol station
Lund was chief executive of BG Group from 2015 to 2016 when the company merged with BP’s rival Royal Dutch Shell PLC

BP PLC (LON:BP.) has announced that former BG Group chief executive Helge Lund is to succeed Carl-Henric Svanberg as its chairman.

The FTSE 100-listed oil giant said Lund will join its board as chairman-designate and non-executive director on September 1 and will become chairman on January 1.

READ: BP’s positive quarterly results overshadowed by equity market sell-off

It added that Lund, who is also chairman of Denmark's Novo Nordisk AS, will stand down as a director of US oilfield service company Schlumberger with immediate effect.

Lund – who will be based in London - was chief executive of BG Group from 2015 to 2016 when the company merged with BP’s rival Royal Dutch Shell PLC (LON:RDSA).

He joined BG Group from Norwegian oil giant Statoil where he served as president & CEO for 10 years from 2004.

BP group chief executive, Bob Dudley commented: "I have known Helge for more than a decade and I am very much looking forward to working with him.”

He added: "I am confident Helge, with the rest of the board, will provide the company with good governance and strategic guidance as we continue to grow and adapt through the energy transition."

Lund said: “BP has come successfully through a challenging period under the strong and committed leadership of Carl-Henric and Bob.

“I am looking forward to working with Bob and his team as they address the changing energy landscape."

In lunchtime trading, BP shares were 1.4% higher at 531.3p.

 -- Adds share price --

 

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