UK-based supermajor, BP (LON: BP), has named Kate Thomson its new chief financial officer as it welcomes her to its board.
Following 18 years with the firm BP says that Ms Thomson has a “detailed understanding” of the organisation and her “deep technical expertise” is welcome in the new role.
In a company update, the energy giant shared that Ms Thomson’s annual salary will stand at £800,000 with further bonuses available.
Kate Thomson said: “It’s a privilege to become CFO and to join BP’s board. We’ve made great progress through the past few years in strengthening BP, and I have no doubt this will continue.
I’m excited about how we can continue to drive BP’s focus on delivery and growing value as we work towards hitting our targets for 2025.”
When the now chief executive of BP, Murray Auchincloss, stepped up as interim boss following the departure of Bernard Looney, Ms Thomson filled her current role also on an interim basis.
Recently there has been speculation that Ms Thompson would become the supermajor’s permanent chief financial officer, following the firm sharing an interview with Mr Auchincloss.
She has been with BP for 20 years across a number of senior financial roles, including treasurer and head of group tax.
Before joining BP in 2004, she worked at professional services firms including Ernest and Young in M&A tax, and as group head of tax for Charter plc.
She has also been a member of Aker BP for seven years and serves on the board of several BP Group companies.
Helge Lund, BP chairman commented: “I am delighted to confirm Kate’s appointment as CFO and welcome her to the board.
“She has a detailed understanding of BP and the energy and finance sectors, combined with deep technical expertise.
“Her record of finance leadership together with her performance as interim CFO have clearly demonstrated her suitability to become BP’s permanent CFO.
“The board looks forward to working with Kate and Murray as we continue with the execution of BP’s strategy.”
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