BP.: More changes to executive committee

研报英文原文证据摘录

BP.: More changes to executive committee

eview and long-term strategy development beyond our 2027 targets”.

Nevertheless, given changes at the board and CEO level, it is natural to assume some changes at the executive committee level

and below, going forwards. The challenge for BP is whether there is sufficient depth in the bench to support the turnaround,

particularly as prior strategy shifts have led to some strong and credible candidates deciding to leave the firm to seek outside

opportunities. Interestingly, it also appears all senior management members that were in place at the time of the low carbon pivot

have now left the firm, except for Gordon Birrell who was EVP production & operations (now head of Upstream).

BP’s M&A track record in the time that Sam Skerry was in the role is not one to be boasted about, however we can only assume

some of these value destructive deals (TravelCenters, Archaea, etc) were driven by top management at the time and were ones

she inherited, while her career appears to include a long tenure in various trading roles across different products and regions,

before the brief stint in M&A.

For BP shareholders, as well as prospective ones, the question is whether sitting through this upheaval and uncertainty is worth

it? When oil prices were >$90/bbl, the de-leveraging story was a clear and powerful one that should help set the company up on

firmer footing into 2027, and one that also effectively distracted from the uncertainty presented by these changes. At $73/bbl,

that becomes a little tougher...

All values in USD unless otherwise noted. Priced as of prior trading day's market close, EST (unless otherwise noted).

Disseminated: Jul 1, 2026 01:46EDT; Produced: Jul 1, 2026 01:46EDT

For Required Non-U.S.