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BP to ‘Reset’ Strategy
BP is underperforming and under pressure
BP ’s investments in low-carbon ventures added to the financial strain. The dismal results coincided with reports that Elliott Investment Management, an aggressive activist hedge fund, has taken a substantial stake in the oil giant.
BP to ‘Reset’ Strategy After Pressure From Investors, C.E.O. Says
The energy giant was vague on details, but analysts say the changes will likely include less spending on renewable sources and a bigger investment in oil and natural gas production.
BP pledges strategy reset as annual profit falls by a third
BP CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations.
BP, Elliott
BP Earnings Hit 4-Year Low. How the Elliott Stake Is Affecting the Stock.
The oil and gas major now has an influential activist investor. That puts even more pressure on CEO Murray Auchincloss.
BP Plans to 'Fundamentally Reset' Strategy Amid Reports of Elliott Stake
BP announced plans to "fundamentally reset" its strategy Tuesday as Elliott Investment Management reportedly has taken a "significant" stake in the British oil giant.
BP shares climb on prospect Elliott stake will drive change
Shares in BP rose by 7% on Monday, and were on track for the biggest daily gain in two years, as investors anticipated that activist shareholder Elliott Management will press for board changes and strategy shifts to boost returns.
3h
BP Promises Big Changes After Attracting An Uninvited Guest
After a quarter century of lagging behind competitors, British oil giant BP has attracted the attention of big hedge fund ...
7h
on MSN
BP executive promises 'reset' after profits fell in 2024
BP Chief Executive Murray Auchincloss promised a "reset" for the company, including dialing back climate commitments, on ...
5h
BP CEO Says Oil Major’s Big Reset Has Been a Year in Making
BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while ...
6h
on MSN
BP cuts senior leadership bonuses to 45% after missing 2024 financial targets, sources say
BP will cut bonuses for its senior leaders to 45% of target after the company missed some key financial goals in 2024, three ...
4h
on MSN
BP cuts senior leadership bonuses to 45% after missing targets - Reuters
BP will cut bonuses for its senior leaders to 45% of target, Reuters reported, citing an internal memo, after the company ...
6h
BP's Q4 disappoints as Elliott Mgmt. discloses stake in Phillips 66
Energy giant BP plc (BP) announced a strategy reset and a $1.75 billion stock buyback program after missing fourth quarter ...
8h
BP’s ‘Fundamental Reset’ Sets High Bar for Auchincloss
The chief executive officer says he’s met with shareholders constantly this past year, and the market will like oil major’s ...
1h
BP Expects Indiana Refinery to Run at Capacity in 2025 After Major 4Q Work -- OPIS
BP on Tuesday said it expects its 440,000 b/d refinery in Whiting, Ind., will run at full capacity this year after completing a major maintenance turnaround in the fourth quarter.
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