BP chief set to retire after ten years

BOB Dudley is retiring at the age of 64 after nearly ten years as BP’s boss.

The American, who earnt £89m during his tenure and is best known for steering BP through the Gulf of Mexico disaster, is understood to be looking to stand down in the next year. It will fire the starting gun in the race to replace him at the FTSE 100’s second-biggest firm, with a market cap of £105.7bn.

Bernard Looney – currently head of BP’s upstream business – and finance chief Brian Gilvary, are said to be front-runners for the job.