BP Names Bernard Looney CEO, Succeeding Bob Dudley, Effective Feb. 5

(RTTNews) - British energy giant BP Plc. (BP.L, BP_UN.TO, BP) announced Friday that Bernard Looney, aged 49, has been appointed as its Chief Executive Officer. Looney succeeds Bob Dudley, who is retiring after leading the company for over nine years.

Looney, currently chief executive, Upstream, will join the BP Board on February 5, 2020. He will continue in his current role until that date.

Dudley, aged 64, will step down as CEO and from the BP Board following delivery of the company's 2019 full year results on February 4, 2020. He will retire on March 31, 2020 after a 40-year career with BP.

Further, the company announced that Lamar McKay, currently deputy group chief executive, has agreed to serve as chief transition officer. In this new role, McKay will support the Chairman and incoming group chief executive. He will assume this new role immediately and step down as deputy group chief executive.