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BP has postponed a capital markets day next month so that its chief executive Murray Auchincloss can recuperate from a “planned medical procedure”.
The FTSE 100 oil and gas giant said on Tuesday that Auchincloss was “recovering well” from the recent procedure, which was not previously disclosed, but that it would move the event from February 11 to February 26.
It has also changed the location from New York to London. Auchincloss, 54, would be “back in the office by February”, BP added.
The event is set to be an opportunity for Auchincloss to boost confidence in his strategy for the company following a series of disappointing financial results.
The former BP finance boss took over as chief executive last year after Bernard Looney resigned over his failure to disclose to the board the extent of past personal relationships with colleagues.
BP made the announcement alongside a trading statement ahead of its fourth-quarter results due on February 11. BP said the results would be published on that date, as planned.
It said it expected oil production in the final quarter of 2024 to be lower than in the previous quarter, while it also warned of “weaker” margins on its refining business.
Its gas marketing and trading results — closely watched by analysts — were expected to be “average” while oil trading performance was expected to be “weak” it added.
