UK-headquartered energy giant BP has decided to appoint its interim Chief Financial Officer (CFO) to the CFO role.
Following the resignation of Bernard Looney from the CEO role, a period of staff reshuffle began at BP, as Murray Auchincloss , the company’s CFO, was moved to the interim CEO role in September 2023, with the handing over of the CEO reins following suit in January 2024.
As a result, Kate Thomson , a qualified chartered accountant, was picked for the interim CFO role to fill in the gap left by Auchincloss’ move from the CFO to the interim CEO position. However, the board of BP has now appointed Thomson as its CFO, enabling her to join the UK player’s board with immediate effect.
Helge Lund , BP’s Chair, remarked: “I am delighted to confirm Kate’s appointment as CFO and welcome her to the board. She has a detailed understanding of BP and the energy and finance sectors, combined with deep technical expertise. Her record of finance leadership together with her performance as interim CFO have clearly demonstrated her suitability to become BP’s permanent CFO. The board looks forward to working with Kate and Murray as we continue with the execution of BP’s strategy.”
Before taking on the role of interim CFO, Thomson had been BP’s Senior Vice President, finance for production & operations, responsible for the financial stewardship of and commercial partnering with the business globally. As BP’s new CFO has been with the company since 2004, she previously held several senior financial roles, including group treasurer and group head of tax.
Prior to joining BP, Thomson worked in professional services firms including with Ernst & Young in M&A tax and as group head of tax for Charter. She has been a member of the board of Aker BP since 2016 and also serves on the boards of several BP Group companies. She is a member of the Institute of Chartered Accountants in England and Wales (ICAEW).
Commenting on her new role, Thomson said: “It’s a privilege to become CFO and to join BP’s board. We’ve made great progress through the past few years in strengthening BP, and I have no doubt this will continue. I’m excited about how we can continue to drive BP’s focus on delivery and growing value as we work towards hitting our targets for 2025.”
BP is working on multiple hydrocarbon and green energy projects. Recently, the UK giant welcomed the arrival of a floating liquefied natural gas (FLNG) unit destined for its Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project off the coasts of Mauritania and Senegal.