BP Chair Resigns Under Pressure: Shareholder Greed vs. Green Agenda
BP chair Helge Lund will step down in 2026, following shareholder pressure and a reversal of the company’s net-zero strategy. This decision comes after activist investor Elliott built a large stake in BP, protesting the company’s shift toward green energy. The strategy, spearheaded by former CEO Bernard Looney, was ultimately abandoned in favor of increased fossil fuel production, a move that angered climate activists. Lund’s departure follows a “fundamental reset” of BP’s strategy aimed at improving performance and shareholder value. A search for his successor, led by senior independent director Amanda Blanc, is now underway.
John Q. Hosedrinker