BP raised its dividend and said it had completed a $1.5 billion share buyback pr...
Dudley, 64, bows out after a decade at BP’s helm. He was abruptly ushered in as CEO in October 2010 after his predecessor Tony Hayward stepped down in the wake of the deadly Deepwater Horizon spill in the Gulf of Mexico.He has since led the company through a deep and long downturn and rising pressure from investors to adapt to the transition to more renewable energy.
“I am proud to be handing over a safer and stronger BP to Bernard and his team. I am confident that under their leadership, BP will continue to successfully navigate the rapidly-changing energy landscape,” Dudley said in a statement.BP reported $2.57 billion in fourth-quarter underlying replacement cost profit, its definition of net income, exceeding analysts’ forecast of $2.1 billion in a company-provided poll.
“Our oil trading result was not as strong as the previous quarters even if it had a record year overall,” Chief Financial Officer Brian Gilvary, who steps down in June, told Reuters.
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