1028 GMT - BP's announced change to its executive team is a step forward in the company's effort to simplify its structure, Jefferies analyst Giacomo Romeo says in a research note. "The appointment of William Lin as EVP Gas & Low Carbon confirms our view that we could see more changes around the strategy for low carbon businesses as the company seeks a more 'pragmatic approach' to the energy transition," the analyst says. The analyst adds that Lin will assume his role after having been involved in projects requiring a high degree of integration between different businesses, a quality now particularly prized as BP is focusing more on opportunities in renewables. Shares are down 1.5%, but up 9.1% since the start of 2024. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
April 18, 2024 06:29 ET (10:29 GMT)
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