BP Restructures as Gas Chief William Lin Departs in Corporate Shakeup
BP's Leadership Changes and Business Reorganization
By Shadia Nasralla
William Lin's Departure and Internal Response
LONDON, June 1 (Reuters) - BP's gas and low carbon business chief William Lin is set to leave the company as the oil major reorganises its operations, a BP spokesperson confirmed after an internal note went out on Monday to thank him for his services.
BP CEO Meg O'Neill's Reorganization Strategy
BP CEO Meg O'Neill, who took office in April, is reorganising BP into two main business units of downstream and upstream - bundling oil and gas production - in a move aimed at making BP simpler and more valuable. This change would start in June, sources have told Reuters.
Current Business Structure
BP currently has three main business units. Its gas and low carbon unit includes gas-focused production, while production and operations covers oil output, its U.S. onshore business and refining. The customers and products unit includes fuel sales, petrol stations and lubricants.
Lin, a BP veteran of three decades, is set to leave in the third quarter.
“We thank William for his leadership, impact, and long-standing commitment to BP, and wish him every success for the future," O'Neill said in the note. A spokesperson declined to comment who would lead the two new business units.
Gordon Birrell is in charge of the production and operations segment.
Boardroom Changes and Governance Concerns
Separately, the board of BP, which is revamping itself to focus on its core oil and gas business and away from renewables, last week ousted Chair Albert Manifold and expressed serious concerns about his governance standards, oversight and conduct.
(Reporting by Shadia Nasralla; Editing by Susan Fenton)
