24th Jul 2014 13:29
LONDON (Alliance News) - BP PLC Thursday said Iain Conn, its Group Managing Director and Chief Executive for its downstream operations, is going to step down from BP's board by the end of the year after 10 years on the board.
The oil and gas giant said that Conn has had a 29-year career with the company and has played a key role in the development of its fuels, lubricants and petrochemicals downstream operations.
The company said Conn will hand over the role of Chief Executive for its downstream operations to Tufan Erginbilgic, who is currently the company's Chief Operating Officer for global fuels businesses, on October 1.
BP said that Conn's regional responsibilities for Europe and Asia will be assumed by Dev Sanyal, BP's Executive Vice President, who has been appointed Executive Vice President for strategy and regions.
"Iain has led the repositioning of BP's Downstream business over the past few years, transforming and greatly strengthening both its portfolio and performance - financially and also in terms of safety and operations," Chief Executive Bob Dudley said in a statement.
BP shares were trading largely flat at 500.60 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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