BP is now on the hunt for a new chairman, after Carl-Henric Svanberg announced today that he was stepping down from the role at the major UK oil giant.
The decision comes after eight years chairing the board, a period which encompassed the oil disaster in the Gulf of Mexico where oil rig Deepwater Horizon, chartered by BP, caught fire when a drilling went wrong and caused a record oil spill, 11 deaths, and billions of dollars in compensation payouts for BP.
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