HomeMarket NewsSmall CapsBP Faces Growing Crisis as Another Executive Departs, Exacerbating Leadership Instability: Report

BP Faces Growing Crisis as Another Executive Departs, Exacerbating Leadership Instability: Report

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BP Plc’s top executive, Dave Lawler, is reportedly stepping down, adding to the string of high-profile departures from the oil giant following the recent resignation of global chief executive Bernard Looney.

Lawler, who has led BP America since July 2020, is leaving to pursue new career opportunities. This development highlights the ongoing period of leadership instability at the company, as noted in an internal memo cited by the Financial Times.

Changes in Leadership

Orlando Alvarez, currently the senior vice president of gas and power trading, is set to succeed Lawler as the head of BP America.

In the interim, Kyle Koontz, the current vice president of development at BPX Energy, will assume the role of division chief executive.

These leadership changes reflect a broader effort within the company to establish stability and continuity amid internal challenges.

Lawler’s Impact

Lawler, who joined BP in 2014 from SandRidge Energy, where he served as executive vice president and chief operating officer, oversaw a workforce of over 30,000 employees in the United States.

Under his leadership, BP made investments totaling over $140 billion in the U.S., cementing its position as the country’s largest global economic contributor.

Earlier this month, Looney resigned as chief executive officer amidst allegations that he had advanced the careers of women with whom he had undisclosed relationships.

Price Action: BP shares closed at $38.72 on Friday, marking a 1.8% decline. After hours, shares dropped further to $38.64.

This content was partially produced using AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

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