BP recruits former Shell CFO to board
BP has appointed Simon Henry, former CFO of Shell, to its board as a non-executive director, effective September 1, in a move that strengthens the company’s oil and gas credentials amid pressure from investors and mounting strategic recalibration.
Henry served as Shell’s finance chief from 2009 to 2017, a period that included the $54 billion acquisition of BG Group—one of the largest energy deals of the decade.
He brings more than 30 years of energy sector experience, including recent board roles at Rio Tinto, Harbour Energy, PetroChina, and Lloyds Banking Group. He is expected to step down from his role at Rio Tinto later this year.
The appointment comes as BP works to reinforce its leadership with figures closely aligned with its traditional oil and gas business.
Earlier this year, BP also added US oil executive Dave Hager and former Balfour Beatty CEO Ian Tyler to its board.
BP Chair Helge Lund, who is set to step down later this year, said Henry’s “deep and broad experience in the energy industry” and “understanding of global markets” would add value at a time when BP is focused on “delivering our strategy and growing long-term value.”
The board reshuffle follows investor dissatisfaction over BP’s underperformance relative to peers and its stalled share price.
In February, BP reversed course on a four-year effort to pivot toward renewables, announcing that it would prioritize traditional hydrocarbons amid weakening returns and rising shareholder scrutiny.
The strategic shift came shortly after activist investor Elliott Management disclosed a stake in BP and began pushing for change. Henry’s arrival—alongside other energy veterans—marks a clear signal that the board is listening.
In the same announcement, BP confirmed that Pamela Daley, a non-executive director since 2018 and also a board member at BlackRock, has stepped down with immediate effect for personal reasons.