BP Has Outmanoeuvred Elliott Again
Ian Tyler is BP’s new permanent chair, but the bigger question is whether BP’s real problem is now governance rather than strategy. We examine why Elliott may have won arguments on costs, assets and spending while BP has retained control of what happens next.
Ian Tyler is now BP’s permanent chair, Amanda Blanc is leaving, and the company is once again resetting its leadership and strategy. In this episode, we look beyond the appointment itself and ask whether BP’s real problem is now bigger than strategy.
We revisit Macondo, Rosneft and the failed transition strategy, examine what Tyler’s comments about evolving the board really imply, and consider why Elliott may have focused too heavily on costs, assets and spending while leaving the governance question largely untouched. BP has absorbed much of Elliott’s prescription. The real question is who controls what happens next.
