BP Plc is weighing former Centrica CEO Sam Laidlaw and ex-BHP chair Ken MacKenzie as potential successors to outgoing chairman Helge Lund, amid an ongoing activist campaign from hedge fund Elliott Management, according to a report by Sky News.
Elliott, which holds a multibillion-pound stake in BP, has been urging CEO Murray Auchincloss to cut costs and shift focus away from renewables back toward hydrocarbons, amid a nearly a 20% share price decline over the past year. The hedge fund’s activism has intensified governance scrutiny, highlighted by a significant 25% shareholder revolt against Lund’s re-election despite his impending departure.
Laidlaw, known for his leadership at Centrica and ties to energy and resource sectors—including chairing Neptune Energy and currently overseeing the UK’s nuclear oversight body AWE, has emerged as a strong candidate. His board experience at Rio Tinto add to his appeal.
MacKenzie, who recently retired from BHP’s chairmanship after navigating a collaborative relationship with Elliott, could provide strategic value in managing activist investor dynamics.
