Oil major bp on Monday appointed Albert Manifold as its next chair, succeeding Helge Lund, who will step down from the board in October.
Manifold will join bp's board as a non-executive director and chair-elect on Sept. 1 and formally take over as chair on Oct. 1, the company said in a statement.
The former chief executive of CRH plc, a global building materials group, led a strategic overhaul of the company's portfolio and "delivered superior growth and performance," according to the statement.
"He has a strong track record of strategic leadership and operational delivery with a focus on cost efficiency, disciplined capital allocation and cash flow generation," the statement added.
Dame Amanda Blanc, bp's senior independent director, who led the succession process on behalf of the board, said: "His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee bp's next chapter."
Manifold is currently a non-executive director at LyondellBasell, a global chemicals producer, listed on the New York Stock Exchange, and Mercury Engineering, a privately held engineering consultancy.
"Albert has a relentless focus on performance, which is well suited to bp's needs now and into the future," Blanc added. "He transformed and refocused CRH into a global leader by building on its rich heritage to deliver superior growth, cash generation and returns."
For his part, Manifold said: "I look forward to working with the bp board, Murray and the leadership team to accelerate delivery of bp’s strategy and drive compelling and sustainable shareholder value creation."
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr