Energy
BP Delays Key Strategy Update After CEO Medical Procedure
- CEO Auchincloss is recovering from planned medical treatment
- Company flags broadly weaker fourth-quarter performance
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BP Plc delayed a highly anticipated presentation to allow Chief Executive Officer Murray Auchincloss more time to recuperate from medical treatment.
The CEO, who is 54, was already in a difficult position as he prepared to give the crucial strategy update. Investors are looking for change after the London-based company fell far behind its fellow oil majors following a bold pivot toward clean energy during the 2020 pandemic.