BP Group managing director Conn to step down

|About: BP p.l.c. (BP)|By:, SA News Editor

BP’s (BP -0.1%) managing director and downstream chief executive Iain Conn is leaving the company by the end of the year amid rumors he could be in line to become the next chief executive of Centrica (OTC:CPYYF).

BP's COO for its global fuels business, Tufan Erginbilgic, will replace Conn as CEO of the downstream business on Oct. 1.

Conn's regional responsibilities for Europe and Asia will be assumed by Dev Sanyal, who becomes executive VP for strategy and regions.