Energy giant BP's gas and renewables boss steps down amid leadership restructuring 

BP shares were down more than 1.5% in early trading.

BP said its head of natural gas and low carbon energy Anja-Isabel Dotzenrath would step down after just over two years, while chief executive Murray Auchincloss announced plans to simplify its management structure.

Ms Dotzenrath, who joined BP in March 2022 from RWE Renewables to lead its efforts to rapidly expand in renewables and low-carbon energy, said in an internal message to staff she had decided to leave to devote more time to her family.

She will depart in the third quarter and be replaced by BP veteran William Lin, whose current regions, corporates and solutions division will be folded into others.

BP's head of innovation and technology Leigh-Ann Russell is also leaving to take up an external job opportunity. She will be replaced by Mr Auchincloss' current chief of staff Emeka Emembolu.

The company said in a statement it would reduce the size of its executive leadership team to 10 members from 11.

BP shares were down more than 1.5% in early trading.

Mr Auchincloss, who became chief executive in January after Bernard Looney's abrupt exit last year, is seeking to improve BP's performance amid investor doubts over its energy transition.

He said BP's strategy had not changed. "We need to deliver as a simpler, more focused and higher-value company. These changes will help us do just that."

RBC Capital Markets analyst Biraj Borkhataria said BP could emulate rival Shell by outlining the cost savings of this organisational restructuring for investors at upcoming results.

"The super-majors are inherently complex businesses, further complicated by the uncertainty of the energy transition, and the wave of deal-making in the low carbon space in recent years," Mr Borkhataria said.

• Reuters