MOVES: Ericsson's Svanberg will replace Sutherland as BP chairman

25 June 2009 09:33  [Source: ICIS news]

LONDON (ICIS news)--BP has appointed Carl-Henric Svanberg to replace Peter Sutherland as its chairman, the UK-based oil and gas major said on Thursday.

Svanberg, currently CEO of Swedish telecommunications company Ericsson, will join the BP board as chairman-designate and a non-executive director on 1 September, the company said.

He will step down at year-end after a seven-year tenure as Ericsson CEO and Sony Ericsson chairman and will succeed Sutherland as chairman of BP on 1 January 2010.

Sutherland, who has served as BP's chairman since 1997, was expected to leave last year but his departure was delayed by a decision not to proceed with the appointment of the initial favourite.

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By: Hilde Ovrebekk
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