BP deputy CEO Carol Howle to retire after 26 years amid leadership shake-up

BP's leadership overhaul deepens as Deputy CEO Carol Howle plans to retire later this year, leaving new Chief Executive Meg O'Neill without a key lieutenant.

BP Deputy Chief Executive Carol Howle plans to retire later this year, the company said Tuesday, extending a leadership shake-up that has seen a new CEO appointed and the chairman ousted in recent months.

"Sam Skerry will succeed Howle as head of supply, trading and shipping," BP said in a statement. Sonya Adams, chief of staff since 2024, will take over responsibility for the company's people and culture functions.

Howle, a 26-year BP veteran who was named deputy CEO in April after serving as interim chief executive, had been overseeing the company's ongoing portfolio review and strategy development. Her appointment as deputy CEO came after former CEO Murray Auchincloss departed, triggering a chain of leadership changes at the London-based energy major. The board's removal of Chairman Albert Manifold in May over governance and conduct issues, which he disputes, added to the instability at the top of the company.

The leadership churn leaves O'Neill without a key lieutenant at a time when BP is navigating its strategic direction. Skerry, who has led BP's mergers and acquisitions business since 2022, will now lead the company's massive trading desk, whose oil trading team recently helped boost profits for BP amid the Iran war. BP reported a $3.2 billion profit in its most recent quarter, beating analyst expectations, driven in part by trading gains.

The management upheaval marks one of the most turbulent periods in BP's recent history. O'Neill, who took the helm in April, faces the challenge of stabilizing the executive team while charting the company's energy transition strategy. The departure of Howle, who had deep expertise across BP's trading operations, removes a stabilizing force from the leadership ranks at a critical juncture.

Skerry's promotion to head of supply, trading and shipping places him in charge of one of the most profitable units within BP. The trading desk has been a significant earnings driver, particularly as volatility in oil markets created opportunities for the company's traders. His background in mergers and acquisitions may signal a continued focus on portfolio optimization under O'Neill's leadership.

The series of leadership changes at BP comes as major oil companies face pressure to balance fossil fuel investments with energy transition spending. Rivals Shell and Exxon Mobil have also undergone leadership transitions in recent years as the industry grapples with shifting investor expectations around climate strategy and capital allocation.

This article is for informational purposes only and does not constitute investment advice.