Saturday, January 13, 2007

Browne leaves BP

From Times Online.

With a share price performance like that Browne is quite an act to follow. BP is promoting from within which can signify a governance problem when a company looks short of ideas but with BP performing so well there seems little reason to worry about the possibility of the company becoming too insular.

Appointing the head of Oil Exploration seems a sensible move if it indicates a renewed focus on the exploration side of the business. With more and more stocks of oil subject to serious security concerns finding new sources is increasingly paramount and any additional focus on this challenge has to be a good thing. The more 'laid back' personal manner seems relatively unimportant by comparison.

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