Murray Auchincloss to abandon energy transition plans in desperate bid for investor trust
- Murray Auchincloss, BP's chief executive, is recovering from a medical procedure.
- The company's capital markets day has been rescheduled from February 11 to February 26, 2025.
- The delay reflects BP's need to address investor confidence amid concerns about its green investment strategy.
In the United Kingdom, BP has postponed its capital markets day, originally set for February 11, 2025, in New York, to February 26, 2025, in London. The delay is attributed to the recovery of chief executive Murray Auchincloss following a planned medical procedure, which was not previously disclosed. Auchincloss, appointed in January 2024, is expected to return to the office by next month to ensure a full recuperation. His leadership comes in light of the resignation of former CEO Bernard Looney, who stepped down due to issues surrounding undisclosed past relationships with colleagues. Auchincloss's recent focus has included scaling back BP's green investment targets in an effort to regain investor confidence amid a lagging share price compared to competitors. The situation highlights the challenges BP faces as it navigates corporate governance, investor expectations, and the broader energy transition landscape.