(MENAFN- Trend News Agency ) Baku, Azerbaijan, Oct.20
By Leman Zeynalova – Trend:
BP chairman Carl-Henric Svanberg has informed the company's board of directors of his intention to retire, said the message on the company's website.
Svanberg will chair the annual general meeting to be held in May 2018 and will remain in position until a successor is in post.
Ian Davis, the BP board's senior independent director, will now lead the process to identify and appoint BP's next chairman.
Svanberg joined the BP board on 1 September 2009 and became chairman on 1 January 2010.
'It has been a tremendous privilege to lead the BP board over the past eight years. I am proud of the achievements of the management and the company in that time. The first couple of years were incredibly challenging for us all as we navigated an unusually complex corporate crisis. Through that turbulent period we stayed focused on saving and restoring the company. Today I can say with confidence that BP is back and ready for the future,' said Svanberg.
BP is a global energy company with wide reach across the world's energy system. It has operations in Europe, North and South America, Australasia, Asia and Africa.
It is the largest foreign investor in Azerbaijan's oil and gas sector and the operator of the Azeri-Chirag-Gunashli offshore oil and gas block, as well as the Shah Deniz gas and condensate field.
BP is also a participant of such pipeline projects as the Baku-Tbilisi-Ceyhan and South Caucasus Pipeline.
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