BP is said to be preferring internal candidates as it searches for its next chief executive, following Bernard Loony’s resignation amid scandal earlier in the year.
Reuters reports that there are currently three preferred candidates, they are the current interim chief executive Murray Auchincloss, EVP trading and shipping, Carol Howle, and EVP customers and products, Emma Delaney.
Mr Auchincloss was thrust into the top job following Bernard Looney’s resignation in September after the former chief executive was found to have misled the board and was involved in relationships with company colleagues.
Recently it was reported that Mr Looney would forfeit up to £32.4 million in earnings following the scandal earlier this year.
BP announced in a recent market updated that Looney’s “serious misconduct” led to him being dismissed without notice, effective December 13.
This saw him forfeit potential total remuneration of up to £32.4m, of which 87% was automatically forfeited as a result of his resignation on 12 September.
The total covers unvested share awards – which will lapse in full – as part of BP’s Executive Directors’ Incentive Plan for years through to 2025, with a potential value of up to £24.8m.
Since the news broke of Bernard Looney’s departure there has been much speculation into who will take the helm at the UK-based supermajor.
Two of the three favourites for the job, Howle and Delaney, will become BP’s first female CEO if either of the candidates are successful.
The London-listed supermajor told Reuters that it will not comment on speculation surrounding potential candidates in the jobs search.
It is worth noting that the UK super major previously said it was looking into internal and external candidates in the search for Looney’s replacement.
The three front runners are all members of BP’s board and were appointed by the disgraced former boss in since he took charge in 2020.
When asked about the current situation BP said: “The process to appoint a new CEO is under way.”
Murray Auchincloss
Mr Auchincloss took on the role of chief financial officer and secured his place on BP’s board on 1 July 2020 and took up the interim CEO job on 13 September this year.
He is considered to be more ‘straight down the line’ than Bernard Looney and is thought to be the most likely candidate to take up the top spot at the supermajor.
In addition to his work with BP, Mr Auchincloss is also a board member of Aker BP ASA, a main committee member of The 100 Group, and a member of the European Round Table for CFOs.
HI willingness to step up to the interim chief executive role has been seen as a point for Auchincloss in the hiring process, however, others argue that his association with the disgraced former CEO might prove detrimental to the Canadian.
Carol Howle
BP’s current EVP for trading and shipping, Carol Howle, has been with the supermajor for more than 20 years.
During her time at the firm she has been based in both the UK and Singapore.
She joined the commercial team in July 2000 and has held many positions, including head of office for Bernard Looney’s predecessor.
Following that position, she joined the outgoing CEO’s leadership team where she took on her current role.
Emma Delaney
Ms Delaney has spent the past 25 years working for the UK supermajor, during which time she has also amassed an impressive resume.
The current EVP for customers and products also has experience in Asia, having taken on the roles of director of Asia external affairs from September 2003 to May 2005.
Following this she was appointed vice president for the Tangguh LNG project in Indonesia for two years.
Ms Delaney’s time at BP has also allowed her to turn her attention to other regions, having worked as head of commercial for Europe, Africa and the Middle East for a three year period.
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