BP Chairman Helge Lund to Step Down Amid Pressure From Elliott for Strategy Shift
1. BP shares plummeted 8% following Helge Lund's resignation announcement. 2. Lund will step down in 2026, ensuring a smooth transition. 3. BP is shifting focus back to fossil fuels from its green strategy. 4. The stock has lost 25% of its value over the last year. 5. Elliott Investment Management pressures BP and shorts rival Shell.