BP chair to resign amid pressure from shareholders over green agenda

Shares in BP rose in February when it emerged that Elliott, a New York hedge fund known for its attempts to shake up listed companies, had taken a stake. Photograph: Nicholas T Ansell/PA

The chair of BP has announced plans to step down from the struggling oil company after growing shareholder opposition derailed its net zero agenda.

The oil company said on Friday that Helge Lund planned to leave his post “in due course” once a successor has joined the board, which would “most likely” be in 2026.