BP (BP) activist shareholder Elliott Investment Management wants a new person to head the company's strategy and succeed Giulia Chierchia, who leads its strategy, sustainability, and ventures arm, Reuters reported Friday, citing a source familiar with the situation.
The New York-based hedge fund, which has a stake of over 5% in BP, also wants the company to return to a structure with separate upstream and downstream units in order to improve accountability, the source said.
BP and Elliott did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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