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BP has announced a number of changes to its leadership as part of a restructuring exercise instigated by new CEO Meg O’Neill. From 1st July 2026, the company will be organised around two distinct business segments – Upstream and Downstream – replacing the previous three-segment structure. Gordon Birrell has been appointed executive vice president, Upstream; and Richard Harding will be interim executive vice president, Downstream. Both bring decades of operational experience and leadership to their roles. A recruitment process is underway to appoint a permanent EVP Downstream.

“Focusing bp around two distinct segments is an important step in accelerating delivery. It will reduce complexity and strengthen execution,” said Meg O’Neill, CEO, in a press statement. “Focusing bp around two distinct segments is an important step in accelerating delivery. It will reduce complexity and strengthen execution… Over the past two months, I have spent time with our teams, partners and investors around the world, and I am encouraged by the strong support for our strategic direction. Focusing bp around two distinct segments is an important step in accelerating delivery. It will reduce complexity and strengthen execution.

The two-segment model removes the previous low carbon segment as part of a refocus on its core oil and gas business. Upstream will bring together bp’s oil and gas regions, including exploration, development and production activities, streamlining how the company finds, develops and produces the energy the world needs. It will also include bp’s upstream joint ventures and its renewable natural gas and CCS businesses. Downstream will include refining, terminals, pipelines, mobility and convenience, biofuels, aviation, hydrogen and Castrol, aligning how bp makes, moves and sells its products. Supply, Trading & Shipping will continue to operate across both segments, supporting delivery and value creation across the integrated system. As a distinctive capability for bp, it connects the portfolio, optimizes flows and delivers material value uplift. Renewable businesses, including solar and offshore wind, will sit within the Technology function as bp continues to advance a capital-light model in these areas. Ian Tyler, who also chairs the Grafton Group building materials firm, is the interim BP chairman.

Chilean state copper giant Codelco has named Jorge Gomez as its new CEO, effective from July 13th. Gomez had previously served as head of the Collahuasi copper mine, one of the world’s largest. The appointment follows the resignation of current CEO Rubén Alvarado Vigar, who has led the company since September 2023. Alvarado will remain in the role until July 13, when Gómez formally assumes leadership.

Codelco Chairman Bernardo Fontaine described Gómez as one of Chile’s most respected mining executives, citing his operational expertise, leadership capabilities, and commitment to creating sustainable value for workers, communities, and shareholders. According to Fontaine, Gómez’s priorities will include improving workplace safety, boosting profitability and returns to the Chilean state, strengthening operational discipline, and advancing environmental and social sustainability goals.

Gómez arrives at Codelco after spending 14 years as CEO of Minera Doña Inés de Collahuasi, one of the world’s largest copper mines. During his tenure, Collahuasi significantly improved operational performance, safety metrics, and value creation, helping establish the operation as one of the mining industry’s leading assets. Earlier in his career, Gómez served as the company’s Vice President of Central-Southern Operations, overseeing the Andina, El Teniente, Ventanas, and Salvador divisions. He also held senior leadership roles at Antofagasta Minerals and Los Pelambres, two of Chile’s most prominent mining operations.

Collahuasi copper mine has in turn named Patricio Hidalgo as its new CEO starting July 1st, to replace Jorge Gomez. Collahuasi is jointly owned by Anglo American and Glencore, each holding 44% of the company. A group of Japanese companies headed by Mitsui & Co. Ltd. owns the remaining 12%.