From Yahoo Finance: 2025-04-04 02:06:00

BP Chair Helge Lund plans to step down in 2026, amid pressure from activist hedge fund Elliott. Lund supported BP’s 2020 strategy to reduce oil and gas production by 40%, but under his watch, BP’s market cap fell to $84 billion. Elliott wants more change, including aggressive asset sales beyond BP’s $20 billion target. Lund received £882,000 in fees and benefits last year. Lund will assist in the transition to his successor, who will join the board before Lund’s departure in 2026. Lund, a Norwegian national, has been BP’s chair since 2019 and was previously CEO of BG Group and Equinor.



Read more at Yahoo Finance: BP chair Lund to exit ‘likely’ in 2026 amid Elliott campaign