BP's CEO to retire next year

BP CEO Bob Dudley intends to begin retirement in 2020, Bloomberg reports. The oil company has not yet made any announcement on Dudley's plans.

Photo: Alastair Grant/AP/Ritzau Scanpix

"I said a long time ago that around the age of 65 I would [step down, -ed.]," BP Chief Executive Bob Dudley told the press while at the Russian Energy Week conference in Moscow this week, Bloomberg reports.

Dudley has led BP since 2010, with his tenure beginning after the major oil spill in the Gulf of Mexico, where 11 people died. He has thus had his work cut out for him since the beginning in restoring BP's activities and image, as it incident took place at BP's rig Deepwater Horizon, which exploded, sank and led to further catastrophe.

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