BP has unveiled a streamlined organizational structure aimed at advancing its strategic objectives laid out in February 2024, with a focus on increasing the company’s value. The reorganization will see the consolidation of its businesses and functions, as well as a reduction in the size of its executive leadership team.
The UK-based energy giant will maintain three core businesses: Production & Operations, Gas & Low Carbon Energy, and Customers & Products, supported by Trading & Shipping. Notably, the current Regions, Corporates & Solutions organization will be integrated into these core businesses and functions. Additionally, BP will operate with five key functions: Finance, Technology, Strategy, Sustainability & Ventures, People & Culture, and Legal. These changes aim to minimize duplication and simplify reporting lines within the company.
As part of the restructuring, BP’s executive leadership team will be reduced to ten members. William Lin, who previously led Regions, Corporates & Solutions, will now spearhead the Gas & Low Carbon Energy business, succeeding Anja-Isabel Dotzenrath, who is retiring from BP. Emeka Emembolu will assume leadership of BP’s Technology function, taking over from Leigh-Ann Russell, who is departing for an external opportunity.
Murray Auchincloss, CEO of BP, reiterated the company’s commitment to transitioning from an Integrated Oil Company (IOC) to an Integrated Energy Company (IEC), emphasizing the importance of delivering as a simpler, more focused, and higher-value entity. He expressed confidence that these organizational changes will enable the team to concentrate on key priorities and enhance BP’s overall value.
Lin’s appointment was met with praise from Auchincloss, who highlighted Lin’s extensive experience and leadership qualities, particularly in managing complex relationships and driving business resilience. Emembolu’s elevation to the leadership team was also welcomed, with Auchincloss commending his 25-year tenure at BP, marked by a strong focus on safety, value growth, and technology.
Auchincloss expressed gratitude to Dotzenrath and Russell for their significant contributions to BP. Dotzenrath was recognized for her instrumental role in building a world-class team and low-carbon business platform, while Russell was commended for her foresight in navigating evolving technological landscapes and her dedication to fostering diversity within the organization.
Lin, who has been with BP for 28 years, brings a wealth of experience to his new role, having held senior management positions across various regions and functions globally. Emembolu’s journey at BP spans 25 years, during which he has held key technical leadership roles, including overseeing the North Sea business before joining the executive office.