CEO troubles | BP looks externally to replace disgraced outgoing chief executive

BP, one of the world's leading oil giants, is exploring the possibility of appointing an external candidate as its next Chief Executive Officer (CEO).

This revelation comes in the wake of the abrupt departure of Bernard Looney, who had led the company since February 2020.

BP's decision to potentially hire an outsider for the top leadership role marks a departure from its longstanding tradition of promoting CEOs from within its ranks. The company has not brought an external candidate into its top executive position for at least three decades.

The announcement was made by BP Chairman, Helge Lund, who also did not provide a specific timeline for the search for a permanent CEO.