bp Names New CEO

Interim CEO and former CFO Murray Auchincloss has been named the company’s top leader.

January 18, 2024

bp announced that the board has appointed Murray Auchincloss as bp chief executive officer with immediate effect. Auchincloss, who has been interim CEO since September 2023, will continue as a member of the bp board. 

The company stated that his appointment was made following a “robust and competitive search process,” carried out by the board over the past four months with support from international search advisers. This included detailed consideration of a range of candidates, including external to bp. 

“Since September, bp’s board has undertaken a thorough and highly competitive process to identify bp’s next CEO, considering a number of high-caliber candidates in detail. The board is in complete agreement that Murray was the outstanding candidate and is the right leader for bp,” said Helge Lund, chair of bp.

Lund added, “Many already know Murray well, and few know bp better than he does. His assured leadership, focus on performance and delivery, and deep understanding of the opportunities and challenges in the energy transition will serve bp well as we continue our disciplined transformation to an integrated energy company.” 

Auchincloss said: “It’s an honor to lead bp—this is a great company with great people. Our strategy—from international oil company to integrated energy company, or IOC to IEC—does not change. I’m convinced about the significant value we can create.”

“Now, more than ever, our focus must remain on delivery—operating safely and efficiently, executing with discipline, and always focusing on returns,” Auchincloss said. “This is how we will deliver real benefits for our customers and other stakeholders and continue to grow long-term value for bp’s shareholders.” 

Before becoming interim chief executive officer in September 2023, Auchincloss had been bp’s chief financial officer since July 2020, at which time he also joined bp’s board. He had previously served as CFO, deputy CFO and head of business development for bp’s Upstream segment. From 2010-2013, Auchincloss was head of bp’s group chief executive’s office, working directly with Bob Dudley. 

In 2023, bp acquired TravelCenters of America in a $1.3 billion deal.