Gilvary to take on BP CFO role

BRIAN GILVARY is to succeed Byron Grote as BP's CFO.

Grote, who has served as BP's CFO since 2002, takes up the new role of executive vice president for corporate business activities. He will be responsible for BP's integrated supply and trading, alternative energy, and shipping businesses as well as its IT and remediation management activities.

Gilvary has served with BP for more than 25 years, including the last two years as deputy group CFO and head of finance. He previously headed BP's commodity trading arm, and has held executive roles in a number of business segments.

He is also a member of the Business in the Community International Leadership Team. He was born in Liverpool and gained a PhD in mathematics from Manchester University.

Gilvary takes the role from January.

Releasing it Q3 results, BP also increased the proposed value of its divestment programme to $45bn (£28.2bn), from $30bn, of low-returning assets by the end of 2013.

Replacement cost profits grew to $5.14bn from $1.85bn.

BP's share price climbed 18.8p to 456.9p in this morning's trading.

For more companies and markets data visit the Share Price Centre