Elliott, an activist investor, calls for a change in BP's strategy chief and organizational structure

A source familiar with this situation on Friday said that activist investor Elliott Investment Management is pushing oil major BP's strategy chief to be replaced and its structure changed to separate its upstream and downstream divisions to improve accountability.

Elliott has a small stake in BP of a little over 5%. The strategy, sustainability, and ventures division of BP is headed by Giulia Chiarchia. She was a key architect behind the company's ill fated focus on renewables during the tenure of previous CEO Bernard Looney.

Chierchia, who joined BP in 2020 from McKinsey & Company consultancy, rose quickly to the position of strategy chief.

Gordon Birrell oversees BP's Production and Operations arm. This includes hydrocarbon upstream business such as oil exploration, production, and refineries.

Emma Delaney is responsible for BP's Customers and Products division. This includes retail petrol and convenience stores - which are often categorized as downstream activities by other groups.

A BP spokesperson could not provide immediate comments.

(source: Reuters)