Former Statoil boss Lund to become new BP chairman

Oil major BP has appointed the former CEO of Norwegian oil major Statoil as the company’s new chairman of the board.

BP said on Thursday that it named Helge Lund as the company’s new chairman. Lund will succeed Carl-Henric Svanberg as the chairman of BP.

He will join the company as the chairman designate and a non-executive director on September 1, 2018. Lund, who will be based in London, will take on the chairman position on January 1, 2019.

The company added that Lund, also a chairman of Novo Nordisk in Denmark, would stand down with immediate effect from his directorship at Schlumberger, the global oil service group.

Regarding his appointment, Lund said: “Now as a non-executive, it is a huge privilege for me to be asked to lead an experienced and diverse board.

“BP has come successfully through a challenging period under the strong and committed leadership of Carl-Henric and Bob. I am looking forward to working with Bob and his team as they address the changing energy landscape.”

According to the company, the search for the new chairman was conducted by the full BP board led by Ian Davis, a senior independent director.

Current BP chairman, Svanberg added: “I am delighted that Helge Lund is to be BP’s next chairman. Our industry is changing faster than ever as the world focuses on meeting the dual challenge of more energy with fewer emissions.

“[…] with his deep industry knowledge and global business experience, he has all the skills necessary to lead the board today and into the future.

“I have enjoyed my time as chairman, made special by the great people that I’ve been privileged to work with at BP, from Bob to the team throughout the company.”

BP CEO, Bob Dudley, said: “Carl-Henric has steadily led our board through BP’s darkest days and into this period of growth and modernization. We owe him a debt of gratitude for his strong support and clear vision over the past nine years.

“I am confident Helge, with the rest of the board, will provide the company with good governance and strategic guidance as we continue to grow and adapt through the energy transition.”

Lund served as the CEO of BG Group from 2015 to 2016 when the company merged with Shell. He joined BG Group from Statoil where he served as president and CEO for ten years from 2004.

Before Statoil, he was president and CEO of Aker Kvaerner, an industrial conglomerate with operations in oil and gas, engineering and construction, pulp and paper, and shipbuilding. He has also held executive positions in Aker RGI, Hafslund Nycomed, McKinsey & Company, and has served as a political advisor for the Conservative party in Norway.

Apart from Novo Nordisk and Schlumberger, Lund held a position on the board of Nokia from 2011 to 2014.