BP $BP said Tuesday that deputy CEO and trading chief Carol Howle will retire later this year, with CEO Meg O'Neill announcing she will not appoint a replacement for the role.
Carol Howle, a 26-year BP veteran, will step down in the third quarter as new CEO Meg O'Neill restructures the leadership team
NurPhoto / Getty Images
BP $BP said Tuesday that deputy CEO and trading chief Carol Howle will retire later this year, with CEO Meg O'Neill announcing she will not appoint a replacement for the role.
Having spent 26 years at BP, Howle had been elevated to the deputy CEO position in April, a role that came after she stepped in as interim chief executive when Murray Auchincloss left the company. O'Neill's arrival in April prompted an agreement for Howle to remain through the handover period, during which she took responsibility for a portfolio review and the development of long-term strategy before ultimately departing. She will leave in the third quarter, the company said.
"We have significant actions underway to streamline the organizational model and we have a focused leadership team in place," O'Neill said in a statement.
Taking over Howle's trading responsibilities will be Sam Skerry, who moves into the role of head of supply, trading and shipping on Aug. 1 after running BP's M&A operations since 2022. Skerry previously worked across BP's trading business before moving to the M&A role, according to The Wall Street Journal.
Separately, Sonya Adams will move from her chief of staff post, which she has held since 2024, into oversight of people and culture; her predecessor in that function, Kerry Dryburgh, is departing BP after a 16-year tenure. Both Adams and Skerry's appointments take effect Aug. 1.
The departures extend a period of upheaval at the top of BP. Since 2023, BP has cycled through four people in the chief executive role and three in the chairmanship, counting interim appointments. Chairman Albert Manifold was ousted by the board in May over conduct and governance issues, which he disputes. O'Neill joined from Woodside Energy in April.
BP reorganized into two business segments earlier this month, splitting into upstream and downstream divisions as part of a broader effort to simplify operations and accelerate decision-making under O'Neill. The company has been cutting costs and reducing debt after an unsuccessful push into renewables, targeting net debt of between $14 billion and $18 billion by the end of 2027 and total cost savings of as much as $7.5 billion by the same date.
Gordon Birrell, who leads upstream operations, stands as one of the only executives still at BP who was present during the company's push into low-carbon energy, with the rest of that leadership cohort having largely departed.
BP stock was down 1% at 467.8 pence in afternoon trading in London on Tuesday.
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