BP Begins Reorganisation on Expectations of Mass Profit Rise

31 January 2010 (Last Updated January 31st, 2010 18:30)

BP has started reorganising its board as it prepares to release its 2009 profits, which analysts say could reflect an increase as high as 80%. On 1 January BP chairman Carl-Henric Svanberg hired a new non-executive director, Paul Anderson, to replace Sir Tom McKillop, who resigned last

BP has started reorganising its board as it prepares to release its 2009 profits, which analysts say could reflect an increase as high as 80%.

On 1 January BP chairman Carl-Henric Svanberg hired a new non-executive director, Paul Anderson, to replace Sir Tom McKillop, who resigned last year.

Anderson worked as a non-executive director at BHP Billiton.

This is the first of several new board appointments expected to take place this year as BP's deputy chairman, Sir Ian Prosser, BP remuneration committee chairman DeAnne Julius and safety committee member Erroll Davis are expected to retire soon.

BP is expected to post $4.7bn in profit for the fourth quarter ended 31 December 2009, an 80% rise compared to $2.6bn for the same period in 2008.