Before becoming interim chief executive officer in September 2023, Murray had been bp’s chief financial officer since July 2020, at which time he also joined bp’s board.
He had previously served as CFO, deputy CFO and head of business development for Upstream segment. From 2010-2013 Murray was head of bp’s group chief executive’s office, working directly with Bob Dudley.
Murray, 53, joined Amoco Canada in 1992.
Following financial and planning roles in Canada and the US, his career included periods as commercial director for bp’s Onshore North America business and CFO for bp’s North Sea business. He has a degree in finance from the University of Calgary and is a Chartered Financial Analyst and is also a member of the Aker BP board.
Murray Auchincloss’s remuneration arrangements will include:
Annual salary of £1.45 million.
Provisions relating to bonus opportunity, bonus deferral and performance shares are all in accordance with BP’s 2023 remuneration policy as approved by shareholders.
A cash allowance in lieu of pension equal to 20 per cent of base salary, in accordance with BP’s remuneration policy and aligned with the majority of the wider UK workforce.
Murray Auchincloss said: “It’s an honour to lead bp – this is a great company with great people. Our strategy – from international oil company to integrated energy company, or IOC to IEC – does not change. I’m convinced about the significant value we can create.
“Now, more than ever, our focus must remain on delivery – operating safely and efficiently, executing with discipline, and always focusing on returns. This is how we will deliver real benefits for our customers and other stakeholders and continue to grow long-term value for bp’s shareholders.”
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