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Oil & Gas

BP''s New CEO Restructures Top Management Team

September 29, 2010
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MarketWatch reports, BP said it will restructure its upstream segment from a single business into three divisions -- exploration, development and production. The new divisions will be led by three executive vice presidents: Mike Daly heading exploration, Bernard Looney in charge of development and Bob Fryar responsible for production, BP said. Andy Hopwood will become executive vice president for Strategy and Integration. The four will join an expanded top management team reporting directly to BP''s incoming Chief Executive Robert Dudley. As a result of these changes, Andy Inglis will step down as head of the upstream business and leave the company at the end of the year. BP also said it will create a new safety division with powers to oversee and audit the company''s operations around the world.
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