BP Chair to Step Down as Board Initiates Search for Successor
BP has officially announced the beginning of a leadership transition process, with current Chair Helge Lund signaling his intention to step down from his role. The company’s board of directors has now initiated a formal search to identify and appoint a successor who will guide the organization through the next phase of its evolution. This decision marks a significant milestone in BP’s strategic journey and underscores the importance of continuity and stability in corporate governance during a time of transformation.
Leadership Transition Led by Senior Independent Director
The succession process will be overseen by Dame Amanda Blanc, who is serving in her capacity as Senior Independent Director. Dame Amanda brings a wealth of leadership experience and boardroom acumen to this critical task. She is spearheading a comprehensive and deliberate search effort, supported by the broader BP board, to ensure that the incoming Chair possesses the necessary skills, credibility, and vision to help guide BP forward.
In a statement, Amanda emphasized the board’s focus on finding a Chair who is capable of building on the progress BP has made under Helge Lund’s leadership. “We are starting a comprehensive search to identify Chair candidates with the credibility and relevant experience to lead the board and continue driving management’s safe execution of the reset strategy,” she said. The board will be considering a wide pool of qualified candidates with deep understanding of energy markets, corporate leadership, and strategic oversight, to help BP successfully deliver on its multi-year transformation.
Planned Handover and Timeline
The board anticipates that the selected candidate will first join BP’s board of directors as a non-executive member. This period of overlap is intended to facilitate a smooth and orderly leadership transition. The new Chair will work closely with Helge Lund during this time to ensure continuity in oversight, strategic alignment, and stakeholder engagement.
Although the specific date of the transition has not yet been finalized, the company expects that Helge will step down from his role—and from the board entirely—sometime in 2026. This measured approach reflects BP’s commitment to stability and governance best practices during times of leadership change.
Continued Strategic Focus
Even as the succession process unfolds, the BP board remains fully committed to its core mission: overseeing the delivery of the company’s newly defined strategy. BP is undergoing a pivotal transformation as it reshapes itself for a net-zero future. Under Helge’s leadership, the company has undertaken a fundamental reset of its strategy, aligning itself more closely with global energy transition goals while continuing to generate shareholder value.
BP’s updated strategic framework, which was recently outlined in its Capital Markets Update, emphasizes enhanced operational performance, disciplined capital allocation, and accelerated delivery of low-carbon energy solutions. As the transition to a new Chair begins, this strategy will continue to be the board’s guiding focus.
In his statement, Helge Lund underscored the importance of this phase in BP’s journey. “Having fundamentally reset our strategy, BP’s focus now is on delivering the strategy at pace, improving performance, and growing shareholder value,” he said. “Now is the right time to start the process to find my successor and enable an orderly and seamless handover. The board and I are committed to supporting Murray and his team, and to overseeing BP’s delivery of its strategic and financial objectives as we set out in our recent Capital Markets Update.”
Helge Lund’s Legacy and Tenure
Helge Lund has served as Chair of BP since 2019, during which time he has played a central role in reshaping the company’s direction in the face of evolving market dynamics and increasing demands for climate action. Under his stewardship, BP has navigated significant challenges, including the global COVID-19 pandemic, oil market volatility, and accelerating shifts in energy policy and consumer behavior.
Perhaps most notably, Helge has helped position BP as a forward-looking energy company committed to a net-zero future. The strategic reset that he helped guide has laid the foundation for BP’s transformation into an integrated energy company, diversifying beyond traditional oil and gas to include renewables, hydrogen, electric mobility, and carbon capture initiatives.
Helge’s collaborative and steady leadership style has earned him the respect of colleagues and stakeholders alike. As he prepares to pass the baton to a new Chair, his contributions to BP’s governance, resilience, and long-term positioning will undoubtedly be recognized as significant and foundational.
Board Oversight of Strategic Execution
As the energy industry continues to evolve rapidly, the role of the Chair is more important than ever. The Chair is not only responsible for leading the board, but also for fostering constructive relationships with executive management, ensuring rigorous oversight, and engaging effectively with shareholders and other key stakeholders.
BP’s board is keenly aware of these responsibilities and is committed to maintaining strong, independent oversight during this transitional phase. The search for a new Chair is being conducted with a focus on integrity, diversity, and strategic alignment. Once in place, the new Chair will be expected to work closely with CEO Murray Auchincloss and his leadership team to ensure BP continues to meet its operational and financial targets while delivering on its commitments to sustainability and energy transition.
A Message of Continuity and Confidence
This announcement signals both change and continuity for BP. While leadership will evolve, the company’s overarching strategic priorities remain clear. The board is focused on execution, performance, and value creation, and will continue to support management in delivering on these fronts.
It’s also worth noting that this announcement includes “inside information” as defined under applicable regulations. BP has disclosed the transition plans transparently and in accordance with market requirements. The individual responsible for ensuring the proper release of this information on behalf of BP p.l.c. is Ben Mathews, the company’s Secretary.
