Comments on: BP Plc gets its succession planning wrong http://dofonline.co.uk/blogs/the-edge/bp/bp-plc-453453/ Richard Northedge takes on corporate finance Thu, 17 May 2012 04:08:48 +0000 http://wordpress.org/?v=2.5.1 By: Richard Northedge http://dofonline.co.uk/blogs/the-edge/bp/bp-plc-453453/#comment-18994 Richard Northedge Fri, 30 Jul 2010 18:35:11 +0000 http://dofonline.co.uk/blogs/the-edge/?p=557#comment-18994 Browne had no wish to leave BP, retirement date or not. He and his chairman were in open dispute about this. A compromise was reached whereby he stayed on longer - but not as long as he wanted. But those plans were overtaken by the relevations about his statements about his private life which led to him leaving prematurely, immediately and in disgrace. None of that suggests smooth succession planning. Browne had no wish to leave BP, retirement date or not. He and his chairman were in open dispute about this. A compromise was reached whereby he stayed on longer - but not as long as he wanted. But those plans were overtaken by the relevations about his statements about his private life which led to him leaving prematurely, immediately and in disgrace. None of that suggests smooth succession planning.

]]> By: Luca http://dofonline.co.uk/blogs/the-edge/bp/bp-plc-453453/#comment-18895 Luca Tue, 27 Jul 2010 17:12:01 +0000 http://dofonline.co.uk/blogs/the-edge/?p=557#comment-18895 It is unfortunate that you have your facts wrong, perhaps to purposely to make it fit the point you are trying to make? Lord Browne left BP because he had reached retirement age. This was publicised at the time. Yes he has a personal issue that prevented him from fighting harder with the board to work beyond retirement age, but at the end of 10 very successful years for BP he retired. Haywood on the otherhand had been very succesful, improved profits and the culture within the organisation. He has alot of support with investors and internal staff alike. His performance has been exceptional, however he is now the scapgoat for an irate american market, who aren't prepared to wait for the investigation before finding Haywood and BP guilty. If you look at the facts, internal succession planning at BP has worked very well. The outsider (Svanberg) is the one who has failed dismally and he is an outsider hired in. It is unfortunate that you have your facts wrong, perhaps to purposely to make it fit the point you are trying to make? Lord Browne left BP because he had reached retirement age. This was publicised at the time. Yes he has a personal issue that prevented him from fighting harder with the board to work beyond retirement age, but at the end of 10 very successful years for BP he retired. Haywood on the otherhand had been very succesful, improved profits and the culture within the organisation. He has alot of support with investors and internal staff alike. His performance has been exceptional, however he is now the scapgoat for an irate american market, who aren’t prepared to wait for the investigation before finding Haywood and BP guilty.

If you look at the facts, internal succession planning at BP has worked very well. The outsider (Svanberg) is the one who has failed dismally and he is an outsider hired in.

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