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D-Day looms for BP boss as oil giant trails its rivals

BP chief executive Murray Auchincloss is facing a crucial meeting with shareholders next month that may determine his future with the company. Sources close to BP have expressed frustration over the firm's direction and believe the investor update scheduled for February 26 is a significant day for Auchincloss personally. While Auchincloss was initially seen as a safe choice for the role, BP's shares have declined by 7% under his leadership, while rival Shell has made significant progress. Some investors believe BP needs a turnaround specialist to lead the company, rather than a continuity hire like Auchincloss. The major issue for Auchincloss has been rolling back his predecessor Bernard Looney's green agenda, which spooked investors and made BP an outlier among its energy peers.

Original article source: https://www.dailymail.co.uk/money/markets/article-14299445/D-Day-looms-BP-boss-oil-giant-trails-rivals.html
Source Id: 2025-01-606697872

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