LONDON (dpa-AFX) - Oil giant BP Plc. (BP.L, BP_UN.TO, BP) announced that Iain Conn, Group Managing Director and Chief Executive, Downstream, is leaving the company and is to step down from BP's board by the end of the year.
Conn has had a career of 29 years with BP, serving on the board for the past 10 years and in his current Downstream role for the past seven. The Downstream comprises BP's three main global customer-facing businesses: Fuels, including refining; Lubricants (principally under the Castrol brand); and Petrochemicals.
The company noted that Conn will hand over the role of Chief Executive, Downstream to Tufan Erginbilgic on 1 October 2014. Erginbilgic is currently Chief Operating Officer for BP's fuels businesses globally, which includes responsibility for BP's global refining function. He is an engineer by training and has long experience in BP's Downstream businesses, having previously led both BP's fuels and lubricants businesses.
Conn's regional responsibilities for Europe and Asia will be assumed by Dev Sanyal, BP's Executive Vice President, who is appointed Executive Vice President, Strategy and Regions.
Copyright RTT News/dpa-AFX