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BP Set to Name Thomson Permanent CFO

January 23, 2024

Kate Thomson (Photo: BP)

Kate Thomson (Photo: BP)

BP is set to confirm Kate Thomson as its permanent chief financial officer after naming Murray Auchincloss as CEO last week, completing a leadership reshuffle following Bernard Looney's abrupt resignation in September, two sources with knowledge of the matter told Reuters.

The board is expected to decide on the appointment before BP reports its full year results on Feb. 6, one source close to the process said.

Thomson was appointed interim CFO a week after Auchincloss took the helm of the energy company on Sept. 12, when Looney stepped down for failing to disclose past relationships with employees.

A BP spokesperson said "the process for the CFO appointment is progressing, following on from the appointment of the CEO last week."

Thomson joined BP nearly 20 years ago and had previously led the finances of BP's oil and gas production and operations division.

Auchincloss, 53, served as CFO under Looney. He was named permanent CEO last week, pledging to stick with BP's energy transition plans.

BP's shares have underperformed those of its rivals since Looney's departure, raising speculation that the company could be an acquisition target amid a recent wave of consolidation.

(Reuters - Reporting by Ron Bousso; Editing by Kirsten Donovan)

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