BP today announced that Iain Conn, Group Managing Director and Chief Executive, Downstream, is leaving the company and is to step down from BP’s board by the end of the year.
Conn has had a career of 29 years with BP, serving on the board for the past 10 years and in his current Downstream role for the past seven. The Downstream comprises BP’s three main global Customer-facing businesses: Fuels, including refining; Lubricants (principally under the Castrol brand); and Petrochemicals. Under Conn’s leadership, BP’s Downstream segment has been repositioned strategically and operationally. Conn also holds group regional responsibilities for Europe, Asia and Southern Africa.
Conn will hand over the role of Chief Executive, Downstream to Tufan Erginbilgic on 1 October 2014.
Erginbilgic is currently Chief Operating Officer for BP’s fuels businesses globally, which includes responsibility for BP’s global refining function. He is an engineer by training and has long experience in BP’s Downstream businesses, having previously led both BP’s fuels and lubricants businesses.
Conn’s regional responsibilities for Europe and Asia will be assumed by Dev Sanyal, BP’s Executive Vice President, who is appointed Executive Vice President, Strategy and Regions.
Carl-Henric Svanberg, Chairman of BP said: “As a member of BP’s board and leadership team for the past decade and more, Iain has made a major contribution to shaping today’s BP. I have greatly enjoyed working with him during my time as Chairman and, on behalf of the whole board, wish him the best for the future.”
Bob Dudley, BP Chief Executive said: “Iain has led the repositioning of BP’s Downstream business over the past few years, transforming and greatly strengthening both its portfolio and performance – financially and also in terms of safety and operations. He has been an invaluable member of the executive team and, for me personally, a great support. He leaves with my very best wishes.”
Iain Conn commented: “Working for BP for the past 29 years has been a wonderful experience and my time working with BP’s customer-facing businesses since 2007 has been both challenging and greatly satisfying. It has been a privilege to lead the very capable Downstream team in its achievements and to help shape BP’s agenda in key geographies.”