BP’s interim CFO Kate Thomson has been promoted to CFO and has joined the company’s board, the company said Feb. 2.
Thomson has worked at BP since 2004. Before her appointment as interim CFO in September, Thomson served as BP’s senior vice president of finance for production and operations.
She also has been a member of Aker BP’s board since 2016 and also serves on the boards of several BP Group companies.
“[Thomson] has a detailed understanding of BP and the energy and finance sectors, combined with deep technical expertise,” Helge Lund, BP chair, said in the press release. “Her record of finance leadership together with her performance as interim CFO have clearly demonstrated her suitability to become BP’s permanent CFO. The board looks forward to working with Kate and [CEO] Murray as we continue with the execution of BP’s strategy.”
As part of Thomson’s appointment, she will be paid an annual salary of 800,000 pounds (about US$10 million) and receive a cash allowance instead of a pension equal to 20% of her base salary. Her employment agreement also includes provisions related to bonus opportunity, bonus deferral and performance shares in accordance with BP’s 2023 remuneration policy as approved by shareholders.
Recommended Reading
US Oil, Gas Rig Count Falls to Lowest Since January 2022
2024-05-03 - The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023.
Pemex Reports Lower 2Q Production and Net Income
2024-05-03 - Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.
Chouest Acquires ROV Company ROVOP to Expand Subsea Capabilities
2024-05-02 - With the acquisition of ROVOP, Chouest will have a fleet of more than 100 ROVs.
SLB, OneSubsea, Subsea 7 Sign Collaboration Deal with Equinor
2024-05-02 - Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.
SilverBow Makes Horseshoe Lateral in Austin Chalk
2024-05-01 - SilverBow Resources’ 8,900-foot lateral was drilled in Live Oak County at the intersection of South Texas’ oil and condensate phases. It's a first in the Chalk.