press release
2
February 2024
Kate Thomson appointed bp
chief financial officer and joins board
The board of bp today announced that
Kate Thomson has been appointed bp chief financial officer and will
join bp's board, both with immediate effect. Kate has been interim
chief financial officer since September 2023.
Helge Lund, bp chair commented: "I
am delighted to confirm Kate's appointment as CFO and welcome her
to the board. She has a detailed understanding of bp and the energy
and finance sectors, combined with deep technical expertise.
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
Murray as we continue with the execution of bp's
strategy."
Kate Thomson said: "It's a privilege
to become CFO and to join bp's board. We've made great
progress through the past few years in strengthening bp, and I have
no doubt this will continue. I'm excited about how we can continue
to drive bp's focus on delivery and growing value as we work
towards hitting our targets for 2025."
Before taking on the role of interim
CFO, Kate had been bp's senior vice president, finance for
production & operations, responsible for the financial
stewardship of and commercial partnering with the business
globally. She has been with bp since 2004, previously holding a
number of senior financial roles, including group treasurer and
group head of tax.
Before joining bp, Kate had worked
in professional services firms including with Ernst & Young in
M&A tax and as group head of tax for Charter plc. She has been
a member of the board of Aker BP since 2016 and also serves on the
boards of a number of bp Group companies. She is a qualified
chartered accountant and is a member of the Institute of Chartered
Accountants in England and Wales (ICAEW).
Notes:
· Kate Thomson's remuneration arrangements will
include:
- Annual salary of £800,000;
- Provisions relating to bonus opportunity, bonus deferral
and performance shares in accordance with BP's 2023
remuneration policy as approved by shareholders; and
- A
cash allowance in lieu of pension equal to 20% of base salary,
in accordance with BP's 2023 remuneration policy and
aligned with the majority of the wider
UK workforce.
· There are no additional matters that require disclosure under
9.6.13R of the UK Listing Rules.
Further information:
bp press office, London:
bppress@bp.com,
07831 095541