BP Executive Director Steps Down

BP announced Thursday that Executive Director Byron Grote will retire from the company and step down from its board of directors on April 11.

BP Chief Executive Bob Dudley commented in a statement:

"Byron has played key roles at critical moments of the company's history, most notably in the integrations of Amoco and Arco, and more recently in guiding BP through the financial challenges following the incidents of April 2010. The company owes him a great debt of gratitude."