The change will be the end of an era for BP. Despite BP’s recent problems in 2006, it was under Browne’s leadership that BP helped initiate the age of the mega-mergers in oil companies, with the acquisitions of Arco and Amoco.
It was also under his leadership that BP pioneered the “open innovation” model of tehcnology development, funding massive amounts of research at university R&D centers instead of in internal R&D centers.
And for the cleantech world, it was under Browne’s leadership that BP virtually defined its technology strategy in terms of a “low-carbon” future.
Along with the recent leadership change at ExxonMobil, Browne’s departure marks the end of an era.
Author Neal Dikeman is a founding partner at Jane Capital Partners LLC, a boutique merchant bank advising strategic investors and startups in cleantech. He is the founding contributor of Cleantech Blog, and a Contributing Editor to AltEnergyStocks.com.