Related: Profile: Carl-Henric Svanberg | World’s 10 largest publicly traded oil companies | World’s 10 largest oilfield services companies
British supermajor BP has announced that it has appointed Carl-Henric Svanberg, currently CEO of the Swedish telecommunications company, Ericsson, to replace Peter Sutherland as chairman of the company.
Svanberg, who is also chairman of Sony Ericsson and a non-executive director of Melker Schörling AB, will join the BP board as chairman-designate and a non-executive director on September 1, 2009.
He will step down at year-end after a seven-year tenure as Ericsson chief executive and Sony Ericsson chairman and succeed Mr Sutherland as chairman of BP on January 1, 2010. He will be based in London and devote the majority of his time to BP business.
“BP is a recognised world leader in the energy sector and it’s a great privilege to be invited to lead its board,” Svanberg said.
“Following such a distinguished predecessor is quite a challenge, but I’m hugely excited about joining the energy industry which is so much at the heart of the global economy. I look forward to it with relish,” he added.
BP chief executive Tony Hayward said: “Peter Sutherland has been an outstanding chairman, guiding the company through one of the most successful periods in its history. He will be a hard act to follow.”
“But I am sure Carl-Henric will be a worthy successor. He is a businessman of international stature who is recognised for his transformation of Ericsson.”
“Our shared views on many aspects of global business give me great confidence that we will work very effectively together on the next phase of BP’s progress,” he added.
The appointment follows a long selection process which BP said has been “worldwide and exhaustive”.
