Ex-BHP chief tipped for BP role
The two-year search for the next BP chairman will end in July - with American Paul Anderson tipped to take the job.
Taking over: BHP board member Paul Anderson is tipped for the top role at BP
One of the most prestigious roles in corporate Britain, it also promises to be a daunting proposition for the new boss.
Challenges include repairing a fractured relationship with the City after a significant shareholder pay revolt, and setting out plans to enhance the company's presence in emerging economic superpowers such as India and China.
But Anderson, 64, brings a wealth of experience. He sits on the board of miner BHP Billiton - where he was chief executive and managing director - and chaired Duke Energy, the US gas and electricity distributor.
He would replace Peter Sutherland, who has chaired BP for almost 12 years.
The search for a successor has been a tortuous and at times farcical process that began in the autumn of 2007.
Rio Tinto chairman Paul Skinner was favourite to take on the role until he bowed out under a cloud after problems at the miner.
It meant Sutherland had to delay his retirement while the process rumbled on. Three BP board members led by senior non-executive director Sir Ian Prosser have done the head-hunting.
BP last night wouldn't confirm the appointment, which was reportedly discussed by the board on Thursday.
A spokesman said: 'Nothing has been decided. But a decision before the summer holidays is likely.'
• BP's Russian venture TNK-BP is on the verge of announcing a tie-up with London-listed Regal Petroleum, which could lead to a takeover of the tiny oil explorer. A source said: 'They've been talking for six to nine months. TNK may decide to get off the fence.'
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