BP reduces organizational structure, changes executive team

The firm will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal.

bp is simplifying its organizational structure, supporting delivery of the priorities it set out in February 2024 to grow the value of the company.

The firm will continue to have three businesses - production & operations, gas & low carbon energy and customers & products – enabled by trading & shipping. The current regions, corporates & solutions organization will be integrated into the businesses and functions, and bp will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal.

These changes aim to reduce duplication and reporting line complexity, while the company’s executive leadership team will reduce in size to ten members.

“As I set out in February, bp’s destination from IOC to IEC is unchanged – and we need to deliver as a simpler, more focused and higher value company. These changes will help us do just that, reducing complexity within bp, allowing our team to focus on delivering our priorities and growing the value of bp,” explained Murray Auchincloss, CEO at bp.

William Lin, who previously led regions, corporates & solutions, will now lead the gas & low carbon energy business, succeeding Anja-Isabel Dotzenrath who is retiring from the firm and her executive career. Emeka Emembolu will head bp’s technology function, taking over from Leigh-Ann Russell.