BP names Helge Lund as chairman

BP names Helge Lund as chairman
  • Clock-gray 10:12
  • calendar-gray 26 April 2018

BP PLC has appointed energy industry veteran Helge Lund as its next chairman as the oil giant seeks to move past the Deepwater Horizon disaster and get to grips with a fast-changing industry, Market Watch reported.


The company on Thursday said Mr. Lund would join the board as chairman-designate and a nonexecutive director on Sept. 1 before taking up the chairman role at the start of the new year. He succeeds Carl-Henric Svanberg, who presided over BP's long and costly recovery from the deadly 2011 accident.


Mr. Lund, a 55-year-old Norwegian, was chief executive of the country's petroleum national champion, Statoil ASA, and then took the helm at BG Group, the British natural gas giant. He negotiated the 2015 sale of BG to Royal Dutch Shell Group PLC for about $50 billion.


He is currently a director at oil field services firm Schlumberger Ltd., a seat he will give up to take the BP role. Mr. Lund is also chairman of health-care company Novo Nordisk.


He takes over at BP as the British firm is still struggling to right itself after the Gulf of Mexico oil platform explosion that killed 11 and triggered the worst maritime oil spill on record. The company has paid billions of dollars in liabilities, and in recent years has divested large chunks of its business.


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