BP Appoints Kate Thomson as Interim CFO in Leadership Reshuffle
BP plc BP announced the appointment of Kate Thomson as its interim chief financial officer, replacing Murray Auchincloss, who became the interim CEO last week. This reshuffle comes in the wake of the sudden departure of former CEO Bernard Looney, who faced scrutiny for incomplete disclosure of past professional relationships.
Kate Thomson brings a wealth of experience to her new role, having dedicated nearly 20 years to BP. Over the course of her tenure, Thomson has held various high-profile positions within the company, including Group Treasurer and Head of Group Tax. This extensive background equips her with a deep understanding of BP's financial landscape.
Beyond her role within the company, Thomson has demonstrated her acumen as a board member of Aker BP for the past seven years. Additionally, she holds positions on the boards of several other BP group companies in Europe, Middle East and Africa, further underscoring her influential presence in the energy sector.
With the unexpected departure of Looney, BP is actively engaged in a rigorous search, both internally and externally, for a permanent CEO.
Zacks Rank & Key Picks
BP currently carries a Zack Rank #5 (Strong Sell).
Some better-ranked players in the energy sector are USA Compression Partners, LP USAC and Helix Energy Solutions Group, Inc. HLX, currently sporting a Zacks Rank #1 (Strong Buy), and Core Laboratories Inc CLB, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
USA Compression Partners is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC has witnessed an upward earnings estimate revision for 2024 in the past 30 days.
Helix Energy Solutionsis an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on its growing well intervention and robotics operations. HLX has witnessed an upward earnings estimate revision for 2023 and 2024 over the past 60 days.
Core Laboratories’ strong presence in the emerging shale plays and its global footprint will provide for steady growth rates going forward. CLB’s technology-heavy portfolio of proprietary products and services gives it the opportunity to optimize production from new and existing fields. Core Labs has witnessed an upward earnings estimate revision for 2024 in the past 60 days.
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