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Daily Telegraph: Managing director replaced in BP shake-up

By Russell Hotten
Last Updated: 2:43am GMT 02/02/2008

BP chief executive Tony Hayward has continued his series of top-tier management changes with the replacement of David Allen as managing director and chief of staff. Mr Allen, who was a close associate of former BP boss Lord Browne of Madingley, is being replaced by Steve Westwell, former vice- president of BP Alternative Energy. But the role of chief of staff will no longer be a board position.

In the past year, half the executive members of BP’s board have left or are about to leave. Refining chief John Manzoni left in September to run Canada’s Talisman Energy. At least 23 new senior managers have been appointed in the past two months.

Those gone or going include Anne Quinn, vice-president of Natural Gas and Power; group general auditor Ian Rushby; and Richard Paniguian¸ an executive covering Russia and the Middle East. Mr Allen has been with BP for 30 years, and was himself tipped as a potential successor to Lord Browne, who left last May after admitting that he lied to the High Court in a case involving Lord Browne’s then lover Jeff Chevalier.

Lord Browne and Mr Allen were directors of a now defunct mobile ring-tone company run by Mr Chevalier. The news comes ahead of BP full-year figures on Tuesday.

On Thursday, Royal Dutch Shell set a new record for annual profits at a British company as the price of crude touched $100 a barrel in the past three months of 2007.

With crude averaging $90 a barrel for the final three months of 2007, Shell reported profits, excluding changes in inventories and one-time items, of $27.6bn (£14bn.) Revenues also jumped to $355.7bn from $318.4bn.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/02/cnbp102.xml

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