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Give BP’s ‘continuity candidate’ time to succeed or fail on net zero strategy | Nils Pratley

There is method in the oil conglomerate’s decision that the best candidate for CEO is the one already doing the job

After a “robust and competitive” hunt for a new chief executive, the board of BP has decided that the best appointment is the bloke who has been sitting in the boardroom for three and a half years already and doing the job on a stand-in basis since the defenestration of Bernard Looney last September.

No surprise there. BP has never appointed a boss from outside, and Murray Auchincloss, the former chief financial officer, fits the bill as a continuity candidate. He has been in the company for 25 years and is wedded to Looney’s – and chair Helge Lund’s – strategy of “orderly” transition to net zero by 2050 or sooner. He did the numbers on the approach, after all.

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from The Guardian https://ift.tt/cv2wUML

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