Former BP (LON: BP) CEO John Browne expects the British supermajor to move on from its governance scandal “quite quickly” and stick with its current strategy.
Bernard Looney resigned as BP CEO last week after failing to disclose several workplace relationships, forcing the board into a rapid global search for a successor. Some analysts said a new chief presents the opportunity for an about-face from Looney’s vision of pivoting away from fossil fuels.
“A big company is not a single person,” Browne said during an interview with Bloomberg Television. “A big company has decided a strategy and I’m sure they’ll pursue it. However unfortunate this circumstance is, it should probably go away quite quickly.”
Browne, chairman of climate and sustainability at fund manager General Atlantic, transformed BP into a transatlantic giant by buying US rivals Amoco and Atlantic Richfield Co. during his 12-year reign as CEO from 1995 to 2007. Like Looney, he also departed after a scandal related to his personal life.