12:01 PM EDT, 06/26/2025 (MT Newswires) -- BP (BP) chair candidate Sam Laidlaw, the former chief executive officer of Centrica, withdrew from consideration, the Financial Times reported Thursday, citing a person familiar with his thinking.

Laidlaw stepped back because he believes the company will either be sold or face significant restructuring, according to the report.

Laidlaw was informed in recent days that he was no longer being considered for the role, the report said, citing a person close to the process.

"Our search to name a new chair, led by Amanda Blanc, is moving at pace and we have high-quality individuals in the process," BP said, according to the FT. "It would be inappropriate to give a running commentary."

The company didn't immediately respond a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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