BP's Profit Plunges, Strategy Chief Departs
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previous CEO Bernard LooneyReuters
•Business
Business & Economics
BP reports 48% profit drop as strategy chief exits

79% Informative
BP posts 48% drop in net profit to $1.4 billion on weaker refining and gas trading.
CEO Murray Auchincloss is under pressure from activist investor Elliott to improve profitability.
Elliott Investment Management had wanted a change of strategy chief as it seeks higher free cash flow through deeper cuts to spending and costs.
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