Activist investor Elliott Investment Management wants oil major BP to replace its strategy chief and create separate units for upstream and downstream activities to improve accountability, a source familiar with the situation said on Friday.
Elliott holds a little more than 5% of BP, placing the investor between other top shareholders BlackRock and Vanguard, according to LSEG data. BP's strategy, sustainability and ventures arm is led by Giulia Chierchia, a key architect of the company's ill-fated focus on renewables under previous CEO Bernard Looney. Chierchia joined BP from consultancy McKinsey & Company in 2020 as Looney's strategy chief...
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