BP CEO Bob Dudley reportedly planning to step down
BP CEO Bob Dudley is planning to step down from the oil and gas giant next year, according to multiple reports.
“I said a long time ago that around the age of 65 I would" step down, Dudley, 64, told reporters at the Russia Energy Week conference in Moscow, according to Bloomberg.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BP | BP PLC | 28.99 | -0.32 | -1.09% |
Rumors have swirled about this potential move for months.
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Dudley has weathered and overcome a variety of significant storms that BP has faced since he took over the company in October of 2010. Initially, he made it his mission to move BP past the Deepwater Horizon disaster -- the most significant oil spill in U.S. history which killed 11 people -- in the Gulf of Mexico, which ultimately cost the company billions of dollars.
Subsequently, he navigated BP's way through the historic oil price disruption of 2014.
Dudley worked at Amoco Corporation for 20 years, rising up the corporate ladder to be a general manager of strategy, before being hired by BP in 1999 in a similar role. He then worked at BP for four years, in different positions, before becoming the president and CEO of TNK-BP in 2003, where he stayed for five years. And by 2010, he was picked to lead BP.
A representative from BP was not immediately available for comment.