Oil major BP has simplified its organization structure and made executive team changes in an effort to streamline its business operations.
BP said it will continue to have three businesses - production and operations, gas and low carbon energy. and customers and products – enabled by trading and shipping.
The current regions, corporates and solutions organization will be integrated into the businesses and functions, and BP will now be supported by five functions: finance; technology; strategy, sustainability and ventures; people and culture; and legal.
Together these changes are expected to reduce duplication and reporting line complexity. BP’s executive leadership team will reduce in size to ten members, while the company’s financial reporting structure remains unchanged.
William Lin, who previously led regions, corporates and solutions, will now lead the gas and low carbon energy business, succeeding Anja-Isabel Dotzenrath who is retiring from BP and her executive career.
Emeka Emembolu will head BP’s technology function, taking over from Leigh-Ann Russell who is leaving BP for an external opportunity.
“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,” said Murray Auchincloss, BP’s chief executive officer.