Thursday, 25 June 2009

BP names Ericsson CEO Svanberg new chairman

BP PLC (LSE: BP) has appointed Carl-Henric Svanberg, currently chief executive officer of Swedish telecommunications company Ericsson, to replace Peter Sutherland as chairman.

Svanberg 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 CEO 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.

http://www.proactiveinvestors.co.uk

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