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BP Selects New Chairman to Succeed Peter Sutherland

29 Jun 2009 - BP announced that it has appointed Carl-Henric Svanberg, currently chief executive officer of the Swedish telecommunications company, Ericsson, to replace Peter Sutherland as chairman of BP.
 
Mr Svanberg, who is also chairman of Sony Ericsson and a non-executive director of Melker Schörling AB, will join the BP board as chairman-designate and a non-executive director on September 1, 2009.
 
He will step down at year-end after a seven-year tenure as Ericsson chief executive and Sony Ericsson chairman and succeed Mr Sutherland as chairman of BP on January 1, 2010. He will be based in London and devote the majority of his time to BP business.
 
The search for the new chairman was conducted by the BP board's nominations committee led by Sir Ian Prosser. The other committee members were Sir William Castell, DeAnne Julius and Peter Sutherland. Sir Ian said the process had been worldwide and exhaustive, producing candidates from the UK, continental Europe and the US.