LONDON, Oct. 4 (Xinhua) -- BP Chief Executive Bob Dudley will step down early next year, ending a four-decade career with the energy giant and over nine years as group chief executive.
Dudley, 64, has decided to step down in February 2020 before retiring from the company on March 31, 2020. He will be succeeded by Bernard Looney, who is currently chief executive of BP's Upstream, BP announced on Friday.
BP Chairman Helge Lund said Dudley was appointed chief executive at probably the most challenging time in the company's history, referring to the aftermath of the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.
"During his tenure he has led the recovery from the Deepwater Horizon accident, rebuilt BP as a stronger, safer company and helped it re-earn its position as one of the leaders of the energy sector," Lund said. "This company -- and indeed the whole industry -- owes him a debt of gratitude."
Looney, an Irish citizen, joined BP in 1991 as a drilling engineer and has run BP's Upstream business since 2016. As chief executive of Upstream, Looney is responsible for all BP's oil and gas exploration, development and production activities worldwide.
Dudley said Looney is "a terrific choice to lead the company next."
"He knows BP and our industry as well as anyone but is creative and not bound by traditional ways of working. I have no doubt that he will thoughtfully lead BP through the transition to a low-carbon future," Dudley said.
