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As part of a change in executive leadership, oil-and-gas giant BP plc announced the appointment of Murray Auchincloss as its new chief financial officer. He will succeed Brian Gilvary who is retiring on June 30 after a 34-year career at BP, including over eight years as CFO. Auchincloss take over as CFO and join the board on July 1.
The CFO change will follow chief executive Bob Dudley’s retirement next month which was announced last year. Bernard Looney, the current chief executive of BP’s upstream operations, will step into the chief executive role and join BP’s board on Feb. 5.
The executive changes come at a time when BP faces growing pressure from investors to reduce carbon emissions and map out a plan to transition the company from fossil fuels to clean energy.
Auchincloss has served as the CFO for BP’s upstream business unit since 2015. He was head of the group chief executive’s office from 2010 to 2013 and finance chief for BP’s North Sea business from 2005 to 2007.
With Auchincloss' "international financial and commercial experience and a deep understanding of the whole group, he will play an important role as BP continues to develop in a fast-changing energy market,” said BP chairman Helge Lund.
BP said in a statement that Gilvary and Auchincloss will work together between now and the end of June to ensure an “orderly transition.”