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BP names interim chief executive following Bridgeland departure

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  • Sally Bridgeland speaking at the IPE Awards in Noordwijk.

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BP Pension Trustee has named chief risk officer David Rix interim chief executive following the departure of Sally Bridgeland.

Bridgeland, who joined the £15bn (€17.5bn) scheme seven years ago from consultancy Hewitt, left at the beginning of April, according to a company spokesman.

Discussing her time at the scheme, Bridgeland said she had “done a lot, learned a lot – and it was time to move on”.

“At the moment, I am just going to have some talks with a number of wonderful people I know in this industry and see what the possibility and options are.”

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Bridgeland spent most of her career at Hewitt, working as head of investment research prior to joining BP in 2007.

She said she would consider sitting on other pension fund trustee boards while continuing to promote her charity, Executive Shift.

In her time at the BP scheme, she championed a focus on cash flows, telling delegates at the IPE Awards in Noordwijk last year: “Why are we thinking about volatility and market values? That’s irrelevant. What matters is volatility and diversification of cash flows.”

BP confirmed that Rix, the fund’s chief risk officer since 2010, would act as interim chief executive.

“A permanent appointment of a new CEO will be subject to a future announcement,” a company spokesman said, but could not provide any details of a timetable.

Prior to joining BP Pension Trustee, Rix was treasurer of the Baku-Tbilisi-Ceyhan pipeline company, in which the oil major had a stake. He joined BP in 1988, following 10 years at Bank of America.

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