By Adria Calatayud

BP PLC (BP.LN) said Friday that Chief Executive Bob Dudley will step down next year, and that he will be succeeded by Bernard Looney, currently chief executive of the oil company's Upstream segment.

Mr. Dudley will step down as CEO after the release of the company's 2019 results on Feb. 4, 2020, and will retire on March 31, BP said.

Mr. Looney will take up the CEO role and join the BP board on Feb. 5, 2020, the company said.

Lamar McKay, currently deputy group chief executive, has agreed to serve as chief transition officer to ensure a full and orderly transfer of leadership, BP said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

October 04, 2019 02:25 ET (06:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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