LONDON (ShareCast) - Oil explorer BP has appointed Carl-Henric Svanberg, currently chief executive officer of Swedish telecommunications company Ericsson (Stockholm: ERIC-B.ST - news)
, to replace Peter Sutherland as chairman.
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 succeed Sutherland on January 1, 2010 and step down at year-end after seven years as Ericsson chief executive and Sony Ericsson chairman.
"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," said chief executive Tony Hayward.
"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.
BP also announced today that it has agreed the sale of its wholly-owned subsidiary, BP West Java Limited (BPWJ), to Indonesian state-owned oil and gas company PT Pertamina. Pertamina will purchase BPWJ for $280m, subject to final adjustments prior to closing.
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