BP's Crisis Deepens — Another Executive Exit Amplifies Leadership Crisis: Report

BP Plc's (NYSE:BP) top executive Dave Lawler is reportedly stepping down, marking another high-profile departure from the oil giant following the recent resignation of global chief executive Bernard Looney. 

Lawler, who has been at the helm of BP America since July 2020, is leaving to explore new career opportunities. This development comes amid a period of leadership instability for the company, according to a note by the Financial Times, citing an internal memo.

Leadership Changes

Orlando Alvarez, currently the senior vice president of gas and power trading, will reportedly succeed Lawler as the head of BP America. 

In the interim, Kyle Koontz, the current vice president of development of BPX Energy, will assume the role of the division's chief executive. 

These leadership changes are indicative of a broader shift within the company, seeking stability and continuity amidst internal challenges.

Also Read: Dismantling Petro-masculinity: Can BP Challenge Big Oil's Legacy Of Hiring Male CEOs?

Lawler's Legacy

Lawler, who joined BP in 2014 from SandRidge Energy, where he served as executive vice president and chief operating officer, oversaw more than 30,000 US employees.

Under his leadership, BP invested over $140 billion in the U.S., marking the country's largest global economic footprint.

Earlier this month, Looney' resignation as chief executive officer was spurred by claims that the chief executive advanced the careers of women with whom he had previously undisclosed relationships.

Price Action: BP shares closed lower by 1.8% to $38.72 on Friday. Shares dropped 0.21% to $38.64 after hours. 

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. 

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