BP Bolsters Fossil Fuel Focus with Devon Energy Veteran
In a significant move, BP has appointed Dave Hager, a seasoned oil and gas industry executive, to its board as a non-executive director. Hager brings over 40 years of experience to the table, having previously served as CEO and executive chairman of Devon Energy Corp.
Hager’s appointment is seen as a strategic play by BP to refocus on fossil fuels, a move that comes after years of underperformance. The company’s previous net zero strategy, while well-intentioned, failed to yield the desired results. By tapping into Hager’s expertise in the US upstream oil and gas industry, BP aims to revitalize its efforts and capitalize on the growing demand for fossil fuels.
As a veteran of the industry, Hager’s experience and insights will undoubtedly be a valuable asset to BP’s board. His appointment is a testament to the company’s commitment to leveraging its strengths and adapting to the evolving energy landscape.
Key Highlights:
- Dave Hager appointed as non-executive director at BP
- Hager brings over 40 years of experience in the oil and gas industry
- Appointment seen as a move to bolster BP’s efforts in refocusing on fossil fuels
- Hager’s expertise in the US upstream oil and gas industry expected to be a valuable asset for BP’s board