Given the disasters that have been going on at BP, I republish a letter of mine published in the London Sunday Times which continues to be relevant:
Sir,
BP shareholders need to realize that if their company has no obvious successors for CEO Brown, Lord Browne and the BP board have failed in their most important task, which is to have a number of potential candidates ready to run the company (¨Call for BP’s Browne to stay on¨ The Sunday Times, July 23, 2006).
It is absurd to think that there is only one man that can run BP and, going for an outsider, may be just what the company needs.
Let us not forget that there have been some significant black spots during Lord Browne´s watch, not least of which include BP´s disastrous environmental and safety performance, or lack thereof, in the US in recent years.
Onésimo Alvarez-Moro
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